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URGARA, the grain inspectors union, began an indefinite strike on March 30 demanding higher wages amid inflation above 100%. The strike is expected to curtail Argentina's soybean and corn exports just as harvest begins, and basis prices rose on supply concerns.
Halted inspections slow shipments from the world's top soymeal and soyoil exporter, tightening near-term export supplies and lifting Argentine basis and meal prices.
ukragroconsult.comApr 4, 2023After 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.
After 285 past bullish logistics events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.5%), and +0.8% 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.
