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USDA's Grain Transportation Report says the Panama Canal Authority tentatively plans short west-lane closures of the Gatun and Pedro Miguel locks on September 26 to 28 for scheduled maintenance. Daily transit capacity would drop to about 30-33 vessels from a normal 34-36.
The majority of U.S. grain bound for Asia transits the canal.
Lower lock capacity can slow grain vessel transits and tighten ocean shipping space for U.S. grain to Asia, which tends to lift freight costs and widen export basis. The effect is likely brief and the authority expects no major delays.
grainjournal.comSep 22, 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.
