Loading…
Suez Canal traffic is resuming after the grounded container ship was released, with about 140 ships expected to transit on March 30. Around 369 vessels were waiting, and ocean freight rates were at record highs.
Black Sea wheat and corn export prices fell $7 to $21 per tonne for the week.
Clearing the canal eases the freight premium that had built up, which supports lower delivered costs for Black Sea grain into Asia. Lower Black Sea FOB prices add pressure on world wheat values.
feedandgrain.comKevin McNewMar 30, 2021Not enough comparable past events yet for a historical read.
After 137 past bearish logistics events, Wheat (SRW) moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.0%), and +0.0% 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.
