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Workers at Argentine soy-processing plants began a strike on Monday just as farmers were collecting the soybean crop. The action threatens to paralyze output from Argentina, the world's largest supplier of soymeal for livestock feed and a major source of soyoil.
Halted crushing cuts supply of soymeal and soyoil to global feed and food buyers, which tends to lift meal and oil prices. Soybean crush demand also falls, which weighs on raw bean values.
admis.comADMIS Research TeamApr 30, 2024
bloomberg.comJonathan GilbertApr 29, 2024After 297 past bearish logistics events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.5% to +1.8%), and +0.7% over 20.
After 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.
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.
Argentine crusher strike threatened output from the world's top soymeal exporter, tightening export meal supply.
The Argentine crusher strike that began April 29 threatened soymeal and soyoil output from the top meal exporter, a supply-disruption risk that plausibly supported soybean futures into May 1.
Strike start on April 29 threatened Argentine soymeal output during harvest, adding supply-disruption premium to the soy complex.
Argentine crusher strike threatened output from the world's largest soymeal exporter, a supply disruption bullish for meal prices.
Argentine crushing strike threatens world's largest soymeal supplier, supporting meal prices.
