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The SOEA oilseed workers union at San Lorenzo, one of Argentina's main soybean export ports, plans an indefinite strike from Monday to protest tax and labor reforms proposed by President Milei. The action is expected to affect about 80% of oilseed companies using the port.
A Senasa state inspectors strike of 72 hours is also set to begin the same day.
Disruption at Rosario-area crushing and export terminals cuts soybean meal and oil shipments from a leading exporter, supporting meal and oil prices while raising Argentine export basis risk.
hr.economictimes.indiatimes.comwww.ETHRWorld.comApr 29, 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.
After 206 past bullish logistics events, SOY 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.
Indefinite SOEA port strike affecting about 80% of oilseed firms at San Lorenzo constrained Argentine export flows, supporting prices.
The indefinite SOEA strike at San Lorenzo, expected to hit about 80% of oilseed firms at the port, raised the risk of delayed Argentine exports and supported prices.
Indefinite oilseed union strike at San Lorenzo port affecting about 80% of crushers constrains Argentine meal shipments.
Indefinite strike at San Lorenzo port affecting about 80% of oilseed firms threatened meal export flows.
