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A deepening industrial dispute at Melbourne's Port, the Victoria International Container Terminal, has stranded hundreds of containers for more than ten days. Stranded cargo includes frozen prawns, grain, milk products, EpiPens and Christmas goods.
A union picket that continued after a Supreme Court order to lift it has blocked trucks from entering or leaving the terminal.
Export delays for grain and dairy cargo through Australia's busiest port can tighten near-term shipping and cause price discounts for exporters. Prolonged disruption could also push out delivery schedules for buyers of Australian grain.
smh.com.auAnna Patty, Nick ToscanoDec 6, 2017After 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.
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.
