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Hurricane Harvey flooding has disrupted Gulf Coast ports, with many grain facilities under water and rail lines from Kansas suspended. About a quarter of U.S. wheat exports leave via the Gulf, and cargoes bound for South Africa, Algeria and Iraq are delayed.
Port closures reduce export capacity and raise logistics costs for HRW and other U.S. grains, and may pressure Gulf basis while rerouting shipments.
journalrecord.comBrian BrusAug 29, 2017After 22 past bullish logistics events, Wheat (HRW) moved a median -1.2% over 5 sessions (45% higher; middle half -2.5% to +1.7%), and +3.9% over 20.
After 283 past bullish logistics events, Wheat (SRW) moved a median -0.2% over 5 sessions (46% higher; middle half -1.4% to +1.3%), and -0.1% over 20.
After 284 past neutral logistics events, Corn moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.4%), and -0.2% 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.
