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Argentine grain inspectors launched a 24-hour strike that halted shipments at Rosario river ports, with further stoppages planned at Buenos Aires ports and other sites during the week. The union is protesting port terminal rules and high taxes on wages.
Argentina is the top exporter of soybean oil and meal, so halted loadings delay export flows and can widen Argentine offer premiums while supporting meal and oil prices.
gcaptain.comReutersApr 17, 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 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.
