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A grain brokerage commentary says rail blockades across Canada have stranded export grain on the Prairies, cutting export income by as much as US$7 million per day through lost sales, contract penalties and demurrage. The blockades also halted crude-by-rail shipments to eastern refineries and caused propane rationing on farms.
Stranded Canadian grain and higher export costs reduce competitive supply to world markets, supporting wheat and canola meal prices while sea freight becomes relatively more attractive.
grainbrokers.com.auMar 3, 2020After 283 past bullish logistics events, Wheat (SRW) moved a median -0.2% over 5 sessions (46% higher; middle half -1.4% to +1.3%), and -0.1% over 20.
Not enough comparable past events yet for a historical read.
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.
