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President Biden praised the ratified six-year West Coast dockworker contract between the ILWU and the Pacific Maritime Association at a White House ceremony. The article notes the contract followed more than a year of negotiations and recent cargo slowdowns at all 29 US West Coast ports.
It also warns that a United Auto Workers strike could follow if the auto contract expires on September 14 without a deal.
Settling the port contract removes a major West Coast export disruption risk for grain and soybean shipments. Any UAW strike would be a separate issue, with limited direct effect on feed commodity prices.
cnbc.comEmma KinerySep 6, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 823 past logistics events, Wheat (SRW) moved a median -0.2% over 5 sessions (46% higher; middle half -1.5% to +1.2%), and -0.1% 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.
