Loading…
The 360-member Unifor strike idled 13 Canadian locks on the St. Lawrence Seaway, and the closure also compounds low Mississippi River water levels. Soy Transportation Coalition's Mike Steenhoek said the Seaway handles about 1% of soybean shipments, and offloading ships to rail to bypass the locks is expensive.
Stacked disruptions on the Seaway and the Mississippi raise US export logistics costs and push some grain onto rail, which pressures soybean basis and freight rates.
brownfieldagnews.comLarry LeeOct 24, 2023After 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.
Not enough comparable past events yet for a historical read.
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.
