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Argentine grain ports and soy crushing plants around Rosario were idled by a 24-hour nationwide general strike against austerity measures under President Milei. Chamber officials said none of the ports or factories were operating.
The CRA farmers' group said it was not striking.
A stoppage during peak harvest shipping halts meal and oil loadings from the world's largest soymeal exporter, tightening prompt supply and supporting meal and oil prices, though the strike was only 24 hours.
datamarnews.comGabriel MalheirosMay 9, 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.
Not enough comparable past events yet for a historical read.
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.
