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Railroads and unions representing about 60,000 employees reached a tentative deal to avoid a freight shutdown. The agreement includes a 24% wage increase over 2020 to 2024 and five annual lump-sum payments of $1,000.
It goes to union members for ratification, during which time workers will not strike.
The deal removes the threat of grain storage overflow and spoilage that would have lifted feed and bread costs. Feed buyers should see rail flows normalize into harvest, reducing the risk premium in grain and meal.
fooddive.comChris Casey, Sarah ZimmermanSep 15, 2022After 284 past neutral logistics events, Corn moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.4%), and -0.2% over 20.
After 230 past neutral logistics events, Soybeans moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.0%), and +0.1% over 20.
After 163 past neutral logistics events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.1%), and -0.3% 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.
