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BNSF is embargoing most commodities bound for California from Illinois, Texas and 12 other states until July 31, citing labor constraints and severe weather. Intermodal cargo is exempt, and permits can be requested for some shipments.
The embargo restricts rail movement of food, feed ingredients and diesel into California, tightening local supply and raising freight costs for feed buyers in the state.
supplychaindive.comSarah ZimmermanJun 29, 2022Not enough comparable past events yet for a historical read.
After 113 past bullish logistics events, ULSD / Diesel moved a median +0.6% over 5 sessions (54% higher; middle half -2.8% to +4.2%), and +0.2% over 20.
After 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.
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.
