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The U.S. Grains Council and the Panama Canal Authority signed a memorandum of understanding on the canal's importance to U.S. grain trade at a council meeting in Panama City. Panama Canal officials said 69% of canal cargo moves to or from the U.S., including about one-third of U.S. grain exports.
The new locks, which opened in June 2016, allow larger shipments.
The canal's larger locks can lower per-ton freight costs for U.S. Gulf and East Coast grain exports to Asia and South America. The agreement supports trade flows but does not itself change near-term prices.
world-grain.comHolly Demaree-SaddlerFeb 15, 2017Not 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.
