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Grain shipper groups welcomed the avoidance of a work stoppage at CP after a federal recommendation and agreement to hold a ratification vote. They said rail service had been unacceptably low through winter 2017/18.
The groups called for a lasting resolution to the labour dispute.
Avoiding a stoppage removes an immediate threat to Canadian grain exports, but chronic rail backlogs still limit shipments. Prices are likely to see limited reaction beyond the reduced near-term risk.
einpresswire.comApr 24, 2018After 163 past neutral logistics events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.1%), and -0.3% over 20.
Not enough comparable past events yet for a historical read.
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.
