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The U.S. Grains Council market perspectives report describes dry-bulk Baltic indices closing weaker with little willingness among physical freight buyers to pay up. It also notes that no grain container loads have gone to China for two months, with empty containers available for China at attractive rates.
Stalled US grain container shipments to China reduce demand for US grain exports and weigh on freight and US grain export prices.
grains.orgAug 30, 2018grains.orgAug 30, 2018grains.orgAug 30, 2018Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 359 past bearish logistics events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -1.5% to +1.5%), and -0.5% over 20.
After 297 past bearish logistics events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.5% to +1.8%), 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.
