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The SOEA oilseed workers union withdrew its threat of further strikes at Rosario export facilities while talks with the Argentine government continue. The dispute followed Buyatti's shutdown of its Puerto San Martin crushing plant and the dismissal of 84 workers.
A 24-hour walkout last week had forced Bunge and ADM to halt some crushing and exports.
Easing the strike threat lowers the risk of further crushing and export delays at Rosario, which supports steady meal and oil flows. The effect on prices is limited while talks continue.
fastmarkets.comJuan Pedro TomasMar 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 13 past neutral logistics events, Soybean Oil moved a median -0.4% over 5 sessions (38% higher; middle half -0.9% to +0.7%), and +2.0% 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.
