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The USDA weekly report says the US average diesel price rose 10.1 cents to $4.545 per gallon for the week ending October 23. It also notes the St. Lawrence Seaway closed at midnight on October 22 due to the Canadian worker strike, affecting over 100 vessels outside the system.
Higher diesel costs raise the cost of moving grain by truck and rail, while the Seaway closure delays vessel traffic and supports freight rates until the locks reopen.
doi.orgOct 26, 2023After 113 past bullish logistics events, ULSD / Diesel moved a median +0.6% over 5 sessions (54% higher; middle half -2.8% to +4.2%), and +0.2% 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.
