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USDA's Grain Transportation Report says the Panama Canal authority will offer an extra Panamax transit slot by auction, with slots potentially selling for $2-4 million. It also notes U.S. diesel prices fell for a fifth consecutive week to $4.146 per gallon.
Canal auction costs and diversions via Suez raise Gulf-to-Asia grain freight, which can narrow US export competitiveness and lift freight-linked prices, while cheaper diesel eases hauling costs.
doi.orgNov 30, 2023Not enough comparable past events yet for a historical read.
After 18 past bearish logistics events, DIESEL moved a median +0.6% over 5 sessions (56% higher; middle half -1.5% to +3.3%), and -0.2% over 20.
After 359 past bearish logistics events, CORN moved a median -0.3% over 5 sessions (44% higher; middle half -1.5% to +1.5%), and -0.5% over 20.
After 297 past bearish logistics events, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.5% to +1.8%), and +0.7% 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.
