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Congress passed legislation to bind rail companies and workers to the September agreement and block a strike that could have begun December 9. The bill now goes to President Biden for signature.
Analysts warned a prolonged strike could cripple the economy, and freight rail carries about 40% of U.S. freight, including grain.
Averting the strike removes the near-term threat to rail grain movements and export logistics. That eases freight premiums and supports a bearish tone for barge and ocean freight.
bbc.comNatalie ShermanNov 29, 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.
