Loading…
Hundreds of vessels queued to transit the Suez Canal after the Ever Given was refloated on March 29. The canal is now operating at full capacity in both directions.
The article notes most US grain bound for Asia uses the Panama Canal, so little US grain passed through Suez.
Limited US grain exposure to Suez means the backlog has a modest direct effect on US grain prices, mainly through general freight costs.
feedandgrain.comApr 1, 2021Not 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.
