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The Panama Canal Authority will cut daily transits from 36 to 34 vessels from September 4 and to 32 from September 15. Below-average rainfall and lower water levels are behind the cuts, which the authority says are needed to protect long-term canal operations.
A severe El Niño is expected to persist into the dry season.
Fewer daily transits lengthen queues and raise freight costs for grain and oilseed cargoes moving through the canal. This tightens shipping capacity and supports ocean freight rates.
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.
