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A seven-hour customs officers' strike on June 8 was expected to affect grain exports from Argentina, the world's No. 3 corn exporter and major soymeal supplier. Union leaders warned that actions could intensify if further stoppages were called.
Argentine port delays tighten near-term export availability of corn and soymeal, supporting nearby prices if stoppages extend beyond short actions.
world-grain.comSusan ReidyJun 8, 2021After 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 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.
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.
