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Norfolk Southern planned to halt bulk rail shipments from Thursday ahead of a possible strike, and it stopped accepting automobiles for transit from Wednesday afternoon. Other freight railroads were likely to follow.
Industry groups warned a strike could cost the U.S. economy more than $2 billion a day.
Bulk rail halts would strand grain and feed ingredients at origin and slow deliveries to feedlots and mills. The disruption would tighten nearby feed supply while pushing interior cash prices lower.
bloomberg.comKim ChipmanSep 13, 2022After 359 past bearish logistics events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -1.5% to +1.5%), and -0.5% over 20.
After 297 past bearish logistics events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.5% to +1.8%), and +0.7% 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.
