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The SMART-TD train and engine union, the largest U.S. rail union, narrowly voted to reject a tentative contract brokered by the Biden administration in September. Three other unions have also rejected the deal, raising the risk of a year-end national rail strike.
The strike could strand food and fuel shipments.
A rail shutdown would halt grain, ethanol and fertilizer movements, pushing up freight costs and disrupting feed supply chains. Buyers should expect firmer freight and basis pressure if talks fail.
reuters.comDavid ShepardsonNov 21, 2022Not 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.
