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The Brazilian grain industry is still feeling effects from an 11-day truckers' strike in May, according to a USDA GAIN report dated July 26. The strike led to a minimum freight rate policy that the CNA estimates raised freight rates by 50% to 150%, and USDA put losses to agriculture at $1.75 billion.
Higher trucking costs and slower grain flows in Brazil's CenterWest region raise the delivered cost of corn and soybeans to ports, supporting Brazilian export prices and reducing export competitiveness.
world-grain.comArvin DonleyJul 27, 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.
After 206 past bullish logistics events, Soybeans moved a median +0.5% over 5 sessions (56% higher; middle half -1.3% to +2.6%), and +1.4% over 20.
After 167 past bullish logistics events, Soybean Meal moved a median +0.5% over 5 sessions (54% higher; middle half -1.8% to +2.9%), and -1.2% 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.
