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Some white corn shipments from Mexico arrived at South African ports with mold after carriers took a roughly 45-day route around Tierra del Fuego instead of the Panama Canal. Cargo was cleared after contaminated surface grain was scraped off, though one cargo faced delays.
South Africa is importing record white corn after its worst drought, so quality problems on Mexican supplies tighten usable supply and can lift import demand and freight costs on longer routes.
moneyweb.co.zaAntony Sguazzin, BloombergJan 25, 2017After 285 past bullish logistics events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.5%), and +0.8% 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.
