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El Niño and a protracted Panama drought have forced draft reductions at the canal, down from 50 feet at the start of the year, with the 43-foot limit taking effect May 28. Spot rates from Asia to the U.S. East Coast rose 14.7%, and the Freightos index shows China to USEC rates up 23% year to date.
Higher East Coast container rates and reduced canal capacity increase the cost of moving feed and feed-ingredient shipments to U.S. importers, supporting freight-linked costs.
theloadstar.comAlex LennaneMay 14, 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.
