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Oilseed plant workers extended their strike to a third consecutive day as wage talks with trading houses reached an impasse. The strike affects ports of major crushers including Viterra, Cargill and Louis Dreyfus.
The crushing association estimates delays cost Argentina about US$50 million a day.
Argentina is the world's largest soymeal and soyoil exporter, so prolonged shipment delays tighten global supply and support prices.
batimes.com.arJames GraingerAug 8, 2024After 167 past bullish logistics events, SBM moved a median +0.5% over 5 sessions (54% higher; middle half -1.8% to +2.9%), and -1.2% over 20.
After 85 past bullish logistics events, SBO moved a median +0.7% over 5 sessions (64% higher; middle half -1.3% to +2.7%), and +3.1% 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.
