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Further strike action at CBH's Kwinana Grain Terminal in Western Australia was averted after a meeting between the Maritime Union of Australia and CBH Group produced a breakthrough. The union and CBH reached agreement in principle on most issues, after earlier non-consecutive strikes from January 12 to 18.
The planned two-week strike had threatened shipments during a record 26Mt-plus WA harvest.
Avoiding the strike keeps wheat, barley and canola exports from WA's main port on schedule, easing near-term logistics pressure on Australian grain supplies and export prices.
countryman.com.auCally DupeJan 23, 2023After 137 past bearish logistics events, Wheat (SRW) moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.0%), and +0.0% over 20.
Not enough comparable past events yet for a historical read.
Not 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.
