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Labor contract talks between the PMA and ILWU caused intermittent closures and delays at major West Coast container terminals, including Los Angeles, Long Beach, Oakland, Tacoma and Seattle. Separately, China has increased inspections of arriving soybean vessels, with all vessels inspected at the Port of Rizhao.
West Coast port disruptions slow containerized exports, which account for about 41% of US containerized agricultural exports in June, and can raise ocean freight costs. Delays in Chinese port inspections also slow soybean deliveries.
doi.orgJun 8, 2023Not enough comparable past events yet for a historical read.
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.
