Market Matters Blog
Katie Micik DTN Markets Editor

Wednesday 12/12/12

PNW Negotiations Bring Back Mediator
Grain terminals in the Pacific Northwest have agreed to additional federally mediated negotiations with union workers in an ongoing dispute that threatens grain exports.[Read Full Blog Post]
Posted at 2:01PM CST 12/12/12 by Katie Micik | Post a Comment
Comments (2)
Hi Katie, great post. It was nice meeting you at the DTN summit this week. What do you think the likelihood of a work stoppage is and how much do you think it would affect grain prices?
Posted by Jevon Reile at 12:15PM CST 12/13/12
Great meeting you too Jevon! Both sides have agreed they need more time to review their options. They've passed deadline after deadline without a work stoppage. Egypt just bought a shipment of PNW wheat for delivery in January, which indicated to me that the grain terminals have convinced the export markets they'll still be able to load ships without the dockworkers, which highlights that they're negotiating from a position of strength. The terminals could lock workers out and not allow them to return unless they accept terms that are on par with the EGT terminal. As far as how it could change grain prices, that's uncertain. If a stoppage comes to pass, prices would probably soften as it takes longer to load ships and terminals absorb the cost of inefficient operations. Here's another good article I came across last night: http://www.oregonlive.com/business/index.ssf/2012/12/with_egypts_northwest_wheat_pu.html
Posted by KATIE MICIK at 1:47PM CST 12/13/12
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