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Severe winter weather, including blizzards, avalanches and heavy rain, has slowed rail shipments of corn, soybeans and wheat to Pacific Northwest ports. A BNSF rail closure in Montana rerouted trains, and secondary-market rail rates spiked.
Asian buyers are seeking alternative fill-in loads while the port backlog clears.
Rail and port bottlenecks delay U.S. export loadings and raise freight costs, which can widen Pacific Northwest basis and shift Asian demand toward South American supplies. Higher freight costs are bullish for shipping rates.
maritimeprofessional.comEric HaunFeb 10, 2017After 359 past bearish logistics events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -1.5% to +1.5%), and -0.5% 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.
