Loading…
An AMAGGI freight head outlines wheat ocean transport, noting about 170 million tonnes of the roughly 200 million tonnes of annual wheat exports move by sea. He flags Panama Canal drought delays affecting about 6 million tonnes of US Gulf exports and Red Sea disruptions.
Panama delays and higher freight on about 6 million tonnes of US Gulf wheat shift supply toward Canada, US West Coast and Australia at a premium, supporting wheat prices in affected markets.
agefi.comAlex HaubertApr 4, 2024After 283 past bullish logistics events, Wheat (SRW) moved a median -0.2% over 5 sessions (46% higher; middle half -1.4% to +1.3%), and -0.1% over 20.
After 22 past bullish logistics events, Wheat (HRW) moved a median -1.2% over 5 sessions (45% higher; middle half -2.5% to +1.7%), and +3.9% 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.
