Loading…
Panama Canal traffic is easing as rains improve water levels, while Houthi attacks have pushed shippers toward alternatives to the Suez Canal. The University of Arkansas notes that about 26% of US soybeans and 17% of US corn move via the Panama Canal, and Suez traffic has fallen sharply.
Easing Panama restrictions lowers route costs for US soy and corn exports to Asia, but Suez disruption keeps freight elevated, leaving net ocean freight costs high for grain buyers.
uaex.uada.eduJul 17, 2024After 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.
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.
