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The National Milk Producers Federation said it pressed Congress for intervention to avert a rail strike that could have begun December 9, 2022. Congress passed legislation implementing the tentative agreement and President Biden signed it on December 2.
NMPF and USDEC also commented on FMC rules on ocean shipping detention and demurrage charges.
Averting a rail shutdown protects feed deliveries to dairy operations and finished-product movement, reducing the risk of feed supply disruption; the event is already resolved.
nmpf.orgTheresa SweeneyJan 5, 2023After 284 past neutral logistics events, Corn moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.4%), and -0.2% over 20.
After 230 past neutral logistics events, Soybeans moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.0%), and +0.1% over 20.
After 293 past neutral events of any kind, Milk (Class III) moved a median -0.1% over 5 sessions (44% higher; middle half -0.8% to +0.5%), and -0.3% 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.
