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The Pacific National pay dispute entered its third day, with the lock-out keeping Victorian grain trains off the tracks. Farmers are struggling to sell stored grain because buyers cannot move it to market.
The Victorian Farmers Federation says this is pressuring the prices farmers receive.
Buyers unable to take delivery are pushing grain prices down at the farm while port supply stays constrained. Extended stoppage would widen the local basis and raise road freight costs.
sbs.com.auMay 3, 2017After 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.
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.
