Back to the Drawing Board: Massive rail union strikes down labor contract

The largest freight union, SMART Transportation Division, comprised of 28,000 workers has rejected the contract agreement brokered by the Biden Administration.

Almost 51 percent voted against the deal.

Another large union, the Brotherhood of Locomotive Engineers and Trainmen, voted to ratify the agreement by 53 percent, according to Reuters.

The agreement gives workers a quarter percent increase in pay over five years, and some changes to the railroads’ strict attendance policies.

There are now four unions that have voted down the agreement. If no agreement is reached by December 8th, the railroads could lock workers out or workers could go on strike.

Story via David Shepardson and Lisa Baertlein with Reuters

Related Stories
Lewis Williamson with HTS Commodities joined us to provide analysis on the January WASDE report and expectations for grain markets going forward.
Strong pork demand and improving beef exports outside China support protein markets despite ongoing trade barriers.
Market reaction was bearish for corn and soybeans, with analysts noting that abundant supplies amid tepid demand could keep price pressure on agricultural commodities.
Logistics capacity remains available, but winter volatility favors flexible delivery and marketing plans. NGFA President Mike Seyfert provides insight into grain transportation trends, trade policy, and priorities for the year ahead.
Traders are keeping a close eye on China’s soybean purchases as markets track export sales, shipments, and progress toward the ‘magical’ 12 million ton target promised last year.
As domestic production and blending slowed, export demand remained a clear bright spot.