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IFPRI analysts report that Red Sea attacks have largely halted Suez Canal traffic, with volumes down about 40%, and that Maersk suspended Red Sea shipments. Drought has also cut Panama Canal and Rhine and Mississippi river flows.
Higher shipping costs and longer routes for grain from Europe, Russia and Ukraine raise import prices in food-insecure regions and support global grain values.
ifpri.orgJoseph Glauber, Abdullah MamunJan 17, 2024Not enough comparable past events yet for a historical read.
After 283 past bullish logistics events, Wheat (SRW) moved a median -0.2% over 5 sessions (46% higher; middle half -1.4% to +1.3%), and -0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
