Panama Canal crisis forces US farm exports to detour through Suez

Not enough comparable past events yet for a historical read.

After 297 past bearish logistics events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.5% to +1.8%), and +0.7% over 20.

• May 6, 2019Panama Canal Drought Puts Bullseye on U.S. Gulf Crop Exports --3.9%
• Dec 30, 2023Panama Canal backup forces detours for Asia-bound grain ships | World Ports Organization-4.2%
• Jun 24, 2023US trade dominates Panama Canal traffic. A drought is threatening it+4.2%
• Apr 2, 2019Brazil ports linked to Bunge, Cargill seek lower Panama Canal fees+0.4%
• Dec 11, 2023Panama Canal drought to delay grain ships well into 2024 | Reuters+0.9%

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.

• May 6, 2019Panama Canal Drought Puts Bullseye on U.S. Gulf Crop Exports --3.2%
• Dec 30, 2023Panama Canal backup forces detours for Asia-bound grain ships | World Ports Organization-2.0%
• Jun 24, 2023US trade dominates Panama Canal traffic. A drought is threatening it-8.7%
• Dec 11, 2023Panama Canal drought to delay grain ships well into 2024 | Reuters+1.0%
• Jul 27, 202460 million tons of cargo exported so far through Ukrainian maritime corridor-1.0%