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Storms and landslides have cut rail access to the Port of Vancouver, leaving about 20 vessels waiting and a few hundred thousand tons of wheat and canola stranded in transit. Some exporters may need to declare force majeure because they cannot meet delivery dates.
Stranded Canadian grain and canola reduce near-term export supply and push buyers toward other origins, which supports wheat and canola meal prices.
ttnews.comJen Skerritt, Marcy NicholsonNov 19, 2021After 283 past bullish logistics events, Wheat (SRW) moved a median -0.2% over 5 sessions (46% higher; middle half -1.4% to +1.3%), and -0.1% 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.
