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Members of the ILWU ratified a three-year contract extension with the PMA on August 4, covering longshore workers at 29 ports in Oregon, California and Washington. The deal runs through July 1, 2022 and raises wages and benefits.
Pacific Northwest ports loaded more than 13 MMT of US wheat in 2016/17, nearly 48% of US overseas sales.
Removing the near-term risk of a West Coast labour stoppage supports reliable US wheat export flows. This lowers the risk premium on US export supply.
uswheat.orgAug 10, 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.
