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President Biden faced a deadline to intervene in U.S. railroad labor talks covering 115,000 workers, or allow a potential strike or lockout. The dispute has already crimped fertilizer shipments, seaport backups and feed deliveries to chicken farms.
The possible strike threatens grain and feed movement and port throughput, which could lift feed ingredient basis and freight costs.
reuters.comLisa BaertleinJul 13, 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.
Not 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.
