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USDA's weekly Grain Transportation Report says a Canadian rail strike and lockout could begin as soon as August 22 at CN and CPKC after a 13-day cooling-off period. The Canada Industrial Relations Board ruled that a stoppage would not immediately threaten public safety.
The report warns of disruption to grain movement.
A Canadian rail shutdown would stall grain and oilseed shipments to ports, tightening export availability in the short term and pressuring Canadian cash prices. The delays could also shift export demand toward other origins.
doi.orgAug 15, 2024After 137 past bearish logistics events, WHEAT moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.0%), and +0.0% 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.
