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About 3,200 CN conductors, train and yard staff stopped work after talks failed over issues including pharmaceutical benefits and time-off provisions. The strike hits Western Canadian farmers during peak shipping of wheat and canola, which move by rail to Vancouver and Prince Rupert for export.
With little port storage, farmers depend on CN and CP to move grain continuously.
Canada's two largest commodity exports rely on uninterrupted rail movement, so the strike threatens export volumes to China, Japan and Indonesia. Delayed loadings support export basis and freight costs.
financialpost.comNaomi PowellNov 18, 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.
