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The Panama Canal signed a memorandum of understanding with the Port of Itaqui in Sao Luis, Maranhao, Brazil, to promote grain and cargo shipments from northern Brazil through the canal to Pacific-bound markets. The partners will conduct joint marketing and exchange trade-flow studies.
The deal targets Asian grain buyers.
A cheaper canal route from northern Brazil to Asia could shift some soybean and corn export flows and freight economics, but the effect is incremental and not immediate.
pancanal.comcdp_adminDec 10, 2018After 230 past neutral logistics events, Soybeans moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.0%), 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.
