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Average waiting time at the Panama Canal has risen 60 percent since the Iran conflict began, reaching about 48 hours. Scheduled Gatun Locks East Lane maintenance from 9 to 17 June will reduce available Panamax slots from 26 to 16, while El Niño risks are rising.
Reduced canal slots during June will tighten vessel scheduling and raise ocean freight for grain and oilseed exports, with El Niño adding drought risk to Panama transit and Pacific grain flows later in the year.
theloadstar.comAlexander WhitemanMay 19, 2026Not enough comparable past events yet for a historical read.
After 284 past neutral logistics events, Corn moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.4%), and -0.2% over 20.
After 230 past neutral logistics events, Soybeans moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.0%), 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.
