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The Panama Canal Authority announced new fees and a revised booking system from February 15 due to historic drought that left the canal short on water. Surcharges range from $2,500 to $10,000 per transit depending on vessel length, and carriers have voiced opposition.
Added canal costs and booking constraints increase shipping expenses on US Gulf and Asia routes for grain and feed ingredients, supporting higher delivered costs for importers.
supplychaindive.comMatt LeonardJan 15, 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.
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.
