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CN Rail and the Teamsters union reached a tentative agreement ending a week-long strike. Normal CN operations were set to resume at 6 a.m. the next day across Canada.
Restored rail service should clear the grain export backlog and ease logistics costs, which is mildly bearish for Canadian wheat and oilseed basis.
feedandgrain.comOct 2, 2020After 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.
