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The USDA Grain Transportation Report says the Canadian Industrial Relations Board is expected to decide by August 9 whether rail service must continue during a possible strike at CPKC and CN. Several Upper Mississippi locks have reopened after flooding from early July record rainfall.
A Canadian rail strike would disrupt US ethanol, soymeal, DDGS and corn exports, which are heavily rail-dependent, and could pressure US feed ingredient prices while lock reopenings ease river logistics.
doi.orgJul 18, 2024Not enough comparable past events yet for a historical read.
After 34 past bearish logistics events, Soybean Meal moved a median +0.4% over 5 sessions (53% higher; middle half -1.8% to +2.6%), and -1.2% over 20.
After 359 past bearish logistics events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -1.5% to +1.5%), and -0.5% over 20.
Not 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.
