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The third-largest US railroad union rejected a tentative labor agreement, so a strike along US railroads remains possible in mid-November. Union leaders say railroads did not address concerns over working conditions and paid time off, and both sides must return to bargaining.
Rising strike risk during peak harvest raises the chance of disrupted rail grain shipments, which could widen basis and support futures for US grain and oilseeds.
agweb.comTyne MorganOct 11, 2022After 285 past bullish logistics events, CORN moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.5%), and +0.8% over 20.
After 206 past bullish logistics events, SOY moved a median +0.5% over 5 sessions (56% higher; middle half -1.3% to +2.6%), and +1.4% over 20.
After 283 past bullish logistics events, WHEAT moved a median -0.2% over 5 sessions (46% higher; middle half -1.4% to +1.3%), and -0.1% 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.
