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The Panama Canal Authority restricted daily vessel transits to 25 from November 3, down from 32, after record-low October rainfall and falling Gatun Lake levels. Transits are scheduled to fall to 18 per day by February 1, 2024.
Sharp transit cuts threaten US Gulf grain exports to Asia and South America, lifting freight costs and encouraging longer routes that tighten shipping capacity.
agnavigator.comJane ByrneNov 6, 2023Not enough comparable past events yet for a historical read.
After 363 past bearish weather events, Soybeans moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% over 20.
After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% 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.
