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Hurricane Harvey has closed all Texas ports until further notice, with ships waiting in the harbor and grain loading halted. Rail grain exports to Mexico through Texas have been disrupted by flooded track, and the storm is now moving toward New Orleans.
The Baltic Panamax freight market eased slightly after a sharp rise over the prior month.
With Gulf export capacity shut, grain cannot ship and US export sales face delays, which pressures Gulf basis and futures while freight spikes. Buyers should review contract terms for delayed shipments.
grains.orgAug 31, 2017grains.orgAug 31, 2017Not enough comparable past events yet for a historical read.
After 137 past bearish logistics events, Wheat (SRW) 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.
After 359 past bearish logistics events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -1.5% to +1.5%), and -0.5% 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.
