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The Panama Canal Authority says its Neopanamax locks, opened in 2016, have expanded its route network to 180 routes serving 1,920 ports in 170 countries. US grain exports through the canal have increased as Chinese soybean demand for feed has grown.
Dry bulk grains are the main commodities transiting the canal.
Stronger canal use by US grain shippers to China supports Gulf export flows and ocean freight demand, which can support US grain basis.
feedandgrain.comApr 22, 2021After 206 past bullish logistics events, Soybeans moved a median +0.5% over 5 sessions (56% higher; middle half -1.3% to +2.6%), and +1.4% over 20.
After 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.
