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The Parana River, which carries nearly 80% of Argentina's grain and oilseed exports, is at its second-lowest level for this time of year since 1970, according to Rosario grains exchange data. Ships are loading less cargo as a result.
Shallow water forces smaller loads and slower loading, which raises freight costs and delays Argentine export flows. This tends to lift freight rates and can widen the gap between Argentine and other origins' prices.
reuters.comMaximilian HeathSep 19, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 48 past neutral logistics events, SBM moved a median +0.7% over 5 sessions (60% higher; middle half -1.0% to +2.5%), and +0.7% over 20.
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.
