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The U.S. Grains Council's weekly market perspectives note Panama Canal daily transit slots rising to 32 from June 1, with Panamax locks losing three slots for maintenance May 7-15. They also report a temporary third access channel opened at Baltimore after the Francis Scott Key Bridge collapse.
Reduced Panama Canal capacity raises freight costs and transit times for US Gulf grain exports to Asia and the Americas's west coast, widening Gulf basis versus competing origins. Baltimore access limits add some further port congestion risk.
grains.orgApr 25, 2024Not enough comparable past events yet for a historical read.
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.
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.
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.
