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Brazilian grain exporters are struggling to load corn onto ships because of an 11-day truck strike and freight network disruption. Lawmakers approved a temporary bill setting minimum freight costs, which exporters oppose.
Reports suggest farmers may default on contracts while the safrinha corn harvest is still incomplete.
Export loading delays and freight uncertainty reduce near-term Brazilian corn shipments, supporting prices for competing origins such as US corn. Higher freight costs would also raise export costs for Brazilian corn.
farmonline.com.auGregor HeardJul 19, 2018After 285 past bullish logistics events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.5%), and +0.8% 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.
