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Five days of industrial action began at GrainCorp's Port Kembla terminal after 10 full-time employees failed to reach a new enterprise agreement. The Australian Workers Union said three ships are due to load, including two wheat cargoes totaling 98,000 tonnes.
The union is seeking a substantial wage increase.
Loading delays on two wheat cargoes could tighten short-term Australian wheat export availability at a single terminal. The effect on global wheat prices is small because the disruption is localized and short.
graincentral.comLiz WellsMay 26, 2023After 283 past bullish logistics events, Wheat (SRW) moved a median -0.2% over 5 sessions (46% higher; middle half -1.4% to +1.3%), 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.
