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Reuters reported that the Suez Canal expected 140 ships to pass as convoys resumed on March 30. The blockage had disrupted global supply chains and nearly doubled rates for oil product tankers.
Resumed convoys reduce the backlog that had been driving tanker and freight rates higher. Easing shipping costs help ease landed costs for feed ingredients.
reuters.comMar 30, 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.
