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Drought has forced Panama Canal authorities to reduce shipping traffic as the two artificial lakes that supply water to the locks have been depleted by lack of rain. Between 21 March and 21 April, water levels in the Alajuela basin fell by seven metres, cutting stored capacity by more than 10 percent.
Fewer and smaller ships transiting the canal lengthen routes for US grain and oilseed exports to Asia, raising freight costs and delivered prices for feed ingredients.
rfi.frMichael FitzpatrickApr 30, 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.
