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Severe drought has left Panama with its lowest year-to-date rainfall since 1950, forcing the Panama Canal Authority to keep transit limits and draft restrictions until about this time next year. Waiting times peaked at 19 days in August before easing to 11 days.
Extended canal restrictions reroute or delay grain cargoes, raising ocean freight and supporting higher delivered costs for feed grains and meals into Asia.
graincentral.comGuest AuthorSep 12, 2023Not 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.
