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Grain farmers, pork producers and fertilizer companies are being hit by the shutdown of Canada's two major railways. Railways had already slowed deliveries before the lockouts, which created backlogs at the start of harvest.
Cereals Canada says more than 85 percent of Canadian grain moves by rail, and the federal government ordered binding arbitration to restart service.
Backlogged deliveries and pork and fertilizer disruptions increase feed and input costs while reducing Canadian grain flows to market. Quick restart would limit the price impact, but backlogs may keep basis weak through harvest.
theglobeandmail.comKate HelmoreAug 22, 2024Not enough comparable past events yet for a historical read.
After 11 past bearish logistics events, Lean Hogs moved a median +1.6% over 5 sessions (55% higher; middle half -2.7% to +2.5%), and -6.1% 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.
