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As many as 35 ships were waiting at anchor off Vancouver and several more at Prince Rupert because rail shipments of wheat, canola and other western crops have slowed. Some vessels face waits of up to a month for their holds to be filled, and the congestion could spread further offshore.
Rail bottlenecks delay Canadian grain and canola exports and tie up ocean freight, supporting Canadian basis and ocean freight costs while delaying delivery to overseas feed buyers.
theglobeandmail.comEric AtkinsMar 7, 2018After 283 past bullish logistics events, WHEAT moved a median -0.2% over 5 sessions (46% higher; middle half -1.4% to +1.3%), and -0.1% over 20.
Not enough comparable past events yet for a historical read.
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.
