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Drayage drivers and warehouse workers protested around the Ports of Los Angeles and Long Beach, targeting XPO Logistics and NFI Industries' CalCartage unit. Protesters allege that drivers are misclassified as independent contractors, and the action is expected to run through Wednesday.
Pickets were also planned at rail yards and terminals and at customer sites including Toyota and an Amazon facility.
Pickets at port terminals and rail yards could cause short delays to container and rail movements through Southern California's ports. The effect on agricultural commodity prices is minimal because the action is short and targets trucking and warehousing operators.
freightwaves.comChris DupinMar 2, 2019Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 823 past logistics events, Wheat (SRW) moved a median -0.2% over 5 sessions (46% higher; middle half -1.5% to +1.2%), and -0.1% 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.
