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Fastmarkets AgriCensus outlines Argentina's agricultural challenges, led by low Paraná River water levels for a second year. About 125,000 tonnes of soybeans and more than 60 barges are trapped, with some expected to stay stuck until September.
Rosario water depth is falling toward 0.5 meters versus a 3.5-meter average.
Barge and river bottlenecks raise freight costs and delay Argentine soymeal, soyoil and corn exports, supporting prices for those products and barge freight while tightening nearby supply.
fastmarkets.comFastmarket teamJun 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 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.
