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Argentina's grain inspectors union URGARA announced an indefinite strike over wage demands, starting after midnight on March 30, targeting grain storage facilities. The action follows the end of a government-mandated conciliation period, amid annual inflation above 102% in February.
Grain receiver strikes can slow the analysis and loading of soybeans, meal, oil and corn at storage sites, potentially delaying Argentine export flows and supporting near-term meal and oil prices.
thedairysite.comMelanie EppMar 30, 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.
