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UNCTAD said it has 'profound concerns' about disruptions at the Red Sea, Panama Canal and Black Sea. It estimated weekly Suez Canal transits fell 42% over two months to January 23, and Panama Canal daily booking slots were cut from a typical 36 to 24 because of low water.
Longer routings and fewer canal slots raise ocean freight costs and transit times for grain and feed shipments. That tends to widen export basis and freight-linked costs for feed buyers.
wwd.comGlenn TaylorSep 3, 2019Not 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.
