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Argentina's 2021-22 soybean harvest has started poorly after drought earlier in the season and sooner-than-expected frosts in late March. A national trucker federation has called a strike from April 11 over freight rates, while diesel shortages are disrupting harvest and transport.
Lower Argentine crush and export availability tightens world soymeal and soyoil supply, supporting prices as Argentina is the largest exporter of both. Transport disruption can delay shipments further.
spglobal.comApr 5, 2022After 453 past bullish weather events, SBM moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% over 20.
After 184 past bullish weather events, SBO moved a median +0.3% over 5 sessions (53% higher; middle half -1.9% to +2.4%), and -0.5% over 20.
After 1,079 past bullish weather events, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% over 20.
After 39 past bullish weather events, DIESEL moved a median +2.4% over 5 sessions (59% higher; middle half -4.5% to +6.1%), and +8.9% 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.
