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The Port of Oakland's executive director warned that a looming labor contract negotiation between West Coast dockworkers and terminal operators could further hurt agricultural exports. East Coast ports are already taking market share from West Coast ports due to congestion.
Continued diversion of farm export business away from West Coast ports could raise freight costs and shift grain flows, modestly weighing on Pacific-bound export basis while supporting Gulf and East Coast routes.
news.bloomberglaw.comLaura CurtisFeb 3, 2022Not enough comparable past events yet for a historical read.
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.
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.
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.
