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The largest U.S. freight rail union, SMART-TD, voted to reject a five-year contract brokered by the Biden administration. The deal had offered a 24% raise over five years.
The two sides return to bargaining, but the possibility of a strike remains.
Rejection of the deal raises the odds of a national rail stoppage that would strand grain and ethanol shipments. That supports higher barge and freight costs until a settlement is reached.
npr.orgAndrea HsuNov 21, 2022Not 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.
