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Argentine oilseed workers announced an indefinite halt to activity at grain export ports and crushing plants outside Rosario, starting at midnight Wednesday. The protest targets the labor and deregulation reform bill promoted by President Milei, which the Senate was set to debate.
An indefinite stoppage at major crushing and export facilities would cut soymeal and soyoil shipments, supporting meal and oil prices until the dispute is resolved.
batimes.com.arMartin SoltysJun 12, 2024After 167 past bullish logistics events, Soybean Meal 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, Soybean Oil moved a median +0.7% over 5 sessions (64% higher; middle half -1.3% to +2.7%), and +3.1% over 20.
After 206 past bullish logistics events, Soybeans moved a median +0.5% over 5 sessions (56% higher; middle half -1.3% to +2.6%), and +1.4% 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.
