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Terminal operations at the Ports of Long Beach and Los Angeles were closed for about a day on April 6-7 due to a labor shortage tied to contract talks between the PMA and ILWU. Shippers faced further delays on April 10.
Rail service bids were mixed.
Port disruptions on the West Coast slow agricultural exports and can raise ocean freight costs. Exporters that depend on LA/LB have few alternatives, so the delays add cost and uncertainty to grain shipments.
doi.orgApr 13, 2023Not enough comparable past events yet for a historical read.
After 297 past bearish logistics events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.5% to +1.8%), and +0.7% 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.
