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United Grain Corporation and ILWU Local 4 reached a tentative collective bargaining agreement covering grain handling at the Port of Vancouver USA export terminal. The deal follows negotiations that began in 2018, and the terminal has continued operating throughout.
The separate West Coast ports contract talks between the ILWU and the Pacific Maritime Association are set to begin later in May.
Settling labor terms at a terminal that handles a large share of US wheat exports lowers the near-term risk of export disruption, which is mildly bearish for wheat export basis. The wider West Coast port talks remain a risk to watch.
gcaptain.comMike SchulerMay 5, 2022After 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.
