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Panama and Central America are experiencing one of the worst droughts on record, with January the driest month in 106 years and watershed precipitation about 90% below average. Gatun and Madden lakes are around seven feet below normal, forcing the canal to restrict cargo loads.
Cargo weight restrictions raise shipping costs and reduce capacity on the key US Gulf and East Coast to Asia grain route, supporting freight rates and widening origin spreads.
supplychaindive.comMatt LeonardJul 15, 2019Not enough comparable past events yet for a historical read.
After 445 past neutral weather events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), 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.
