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Australian exporters and importers face surging container freight costs and space shortages as Houthi attacks have forced vessels around the Cape of Good Hope. Freight times between Asia and Europe have nearly doubled, and port congestion in Singapore and elsewhere is worsening.
Analysts warn of pressure on grain and meat exports ahead of the harvest.
Higher freight and port delays raise costs for Australian grain and meat exports and imported feed inputs, supporting firmer export basis and delivered feed prices.
farmonline.com.auAndrew MarshallJul 1, 2024Not enough comparable past events yet for a historical read.
After 163 past neutral logistics events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.1%), and -0.3% 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.
