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Kumba Iron Ore's full-year headline earnings fell 46% as Transnet rail problems cut ore railed to Saldanha port by 9% and sales volumes by 9%. The company revised its production outlook lower for three years and called for private sector involvement in rail.
Rail and port constraints in South Africa are a logistics issue for iron ore rather than feed commodities, so the direct price implication for grain and meal buyers is negligible.
dailymaverick.co.zaEd StoddardFeb 21, 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.
