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Seven grain ships stranded at Rosario will be towed free and sent to sea after being loaded beyond the draft allowed by the port's shallow waters, local authorities said. The ships had been moored during a 48-hour tugboat strike.
Paraguay and Brazil agreed to release Itaipu dam water to help barge traffic on the Parana, and unions warned the strike could resume the following week.
Moving the stranded ships clears a backlog of soymeal and corn cargoes, but low river levels and the threat of renewed strikes keep Argentine export logistics tight.
bworldonline.comCEDTyCleaMay 23, 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.
