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Shipments from Ag Processing's Aberdeen, Washington export terminal, which handles about 20% of US soybean meal exports, have been curbed after a crane collapse on Sept. 1.
Repairs could take months, and a ship was diverted to a Longview terminal.
Reduced US Pacific Northwest meal export capacity tightens supply to Asian buyers such as the Philippines, supporting meal export premiums and boosting reliance on South American supply.
airfreight.newsBloombergSep 29, 2021After 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 230 past neutral logistics events, Soybeans moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.0%), and +0.1% over 20.
Not enough comparable past events yet for a historical read.
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.
