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Hurricane Harvey flooding reduced rail service along the Gulf Coast and nearly halted regional grain exports through early September. About 46% of US wheat exports normally ship from Gulf ports in Texas and Louisiana, and no wheat was inspected at South Texas or East Gulf ports for the week ending September 7.
Disrupted Gulf rail and port capacity cut US export shipments, pressuring HRW basis and export demand while adding freight costs; restoration of service should gradually release the backlog.
world-grain.comHolly Demaree-SaddlerSep 29, 2017After 11 past bearish logistics events, KWHEAT moved a median -0.3% over 5 sessions (45% higher; middle half -2.8% to +0.9%), and +0.4% over 20.
After 137 past bearish logistics events, WHEAT moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.0%), and +0.0% 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.
