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Historic low river levels on the Paraná have forced Argentine grain ships to cut cargoes by 25%, according to the ports chamber. The river is at a 77-year low amid prolonged dryness upriver in Brazil, affecting soy, wheat and corn shipments.
Reduced barge and vessel loading capacity tightens export logistics for Argentine soy products and corn, supporting Gulf and world prices while raising freight costs for feed buyers.
reuters.comHugh BronsteinJul 23, 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 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.
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.
After 283 past bullish logistics events, Wheat (SRW) moved a median -0.2% over 5 sessions (46% higher; middle half -1.4% to +1.3%), and -0.1% 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.
