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Argentine grain and oilseed shipments face disruption from ongoing port and logistics strikes by workers demanding COVID-19 vaccines. Unions including Fempinra and Urgara held 24-hour and 48-hour stoppages, paralysing shipments at Rosario, Quequén and Bahía Blanca.
Low Paraná River water levels compound the delays.
Stalled port loadings and river constraints slow Argentine meal, oil and corn exports, tightening nearby supply and supporting prices for soymeal, soyoil and corn while widening freight costs.
ofimagazine.comJun 3, 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 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.
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.
