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Mato Grosso soybean and corn producers' association Aprosoja and the Pro-Logistics Movement visited Panama in early July to discuss grain transport. They said Panama Canal shipping rates make grain routes to Asia unfeasible for now.
They plan to seek more competitive rates and will also visit Ecuador.
If Panama Canal grain freight rates fall, Brazilian grain could reach Asia more cheaply, adding competition to US export flows. Current high rates keep Brazilian grain on existing routes, so there is no near-term price effect.
revistacultivar.comJul 7, 2017After 230 past neutral logistics events, Soybeans moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.0%), 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.
