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IGC analysis based on shipping data shows grain and oilseed volumes through the Suez Canal fell 20% in December from November. Houthi attacks have pushed bulk carriers to divert away from Suez, and major container lines have suspended Suez transits.
Rerouting via the Cape adds 10 to 15 days and significant cost.
Diverted bulk grain shipments raise freight costs and delivery times for Black Sea and EU flows to Asia, supporting delivered prices and reducing competitive export pressure from the Black Sea.
ofimagazine.comQuartz Business MediaFeb 6, 2024Not enough comparable past events yet for a historical read.
After 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.
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.
