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About 3,200 CN Rail workers walked off the job after failing to reach a deal by the midnight deadline, halting freight trains nationwide. Grain elevator operators and farmers worry about lost sales and contract penalties.
CN serves about half of Western Canadian elevators and exclusive access to key West Coast terminals.
Every lost shipping day during peak harvest movement is hard to recover, so the stoppage risks delayed Canadian grain and oilseed exports. Export delays tend to support prices for Canadian commodities.
globalnews.caStaff The Canadian PressNov 19, 2019After 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.
