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Seven grain ships stranded at Rosario after being overloaded for the port's shallow waters will be towed out to the main Parana channel, local authorities said. The ships were moored during a 48-hour tugboat strike and loaded with soymeal, corn and other products.
Paraguay and Brazil agreed to release water from the Itaipu dam to help stalled barge traffic on the Parana.
Clearing the stranded vessels frees berths and eases the backlog for soymeal and corn, but low Parana water levels remain a constraint on export capacity and freight costs.
marinelink.comHugh BronsteinMay 21, 2021After 48 past neutral logistics events, Soybean Meal moved a median +0.7% over 5 sessions (60% higher; middle half -1.0% to +2.5%), and +0.7% over 20.
After 284 past neutral logistics events, Corn moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.4%), and -0.2% 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.
