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Egypt will run its ports 24 hours a day, up from 16, to reduce long waiting times and the demurrage fees that have added premiums of up to $500,000 per cargo. The minister gave no start date and the new policy will not fix a shortage of storage space.
Faster port turnaround should lower risk premiums on wheat cargoes into Egypt, the world's largest wheat buyer, which modestly supports wheat export demand.
gcaptain.comReutersApr 18, 2018After 283 past bullish logistics events, Wheat (SRW) moved a median -0.2% over 5 sessions (46% higher; middle half -1.4% to +1.3%), 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.
