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Argentine FOB Up River soybean meal strengthened to a $2/st premium over CBOT futures on August 18, a $13/st gain for the front-month loading position during August. The rally coincided with a historically shallow Parana river and slow farmer selling, and India approved imports of 1.2 million tonnes of GM soybean meal.
Low river levels raise Argentine export costs while Indian import demand draws on meal supplies, supporting meal prices for feed buyers.
spglobal.comJose Roberto GomesAug 19, 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.
Not enough comparable past events yet for a historical read.
After 206 past bullish logistics events, Soybeans 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.
