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The Panama Canal announced measures starting February 15 to sustain water levels at Gatun Lake after rainfall was 20 percent below average and the fifth driest year in 70 years. A freshwater surcharge applies to vessels over 125 feet LOA, with a fixed $10,000 per transit plus a variable 1-10 percent of toll depending on lake levels.
Higher transit costs and possible scheduling constraints raise freight costs for grain and oilseed cargoes moving from US Gulf and Pacific Northwest to Asia, weighing on export competitiveness and widening FOB-to-delivered basis.
pancanal.comcdp_adminJan 13, 2020Not enough comparable past events yet for a historical read.
After 359 past bearish logistics events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -1.5% to +1.5%), and -0.5% over 20.
After 297 past bearish logistics events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.5% to +1.8%), and +0.7% over 20.
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.
