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Vessels are avoiding the Red Sea because of ongoing Houthi attacks, which adds cost and delay. About 15% of world shipping traffic normally transits the Suez Canal.
Rerouting around Africa adds transit time and fuel cost, which supports higher freight rates on Europe-Asia grain and feed cargoes.
markets.bostonherald.comAssociated PressMar 6, 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.
