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Weekly market review notes no reported Houthi attacks on vessels in the Red Sea this week, with ships still avoiding the region and using routes around the Cape of Good Hope. Russia continued strikes on Odesa port infrastructure and vessels, and insurers raised premiums.
Record US grain and soybean exports to Mexico face rail congestion and inspection delays.
Higher war-risk insurance and longer routings keep ocean freight elevated for Black Sea and US grain, while Mexican rail bottlenecks slow US feed deliveries and can widen regional basis.
grains.orgOct 17, 2024grains.orgOct 17, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
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.
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.
