Loading…
Soy and sugar traders are competing for loading slots at Brazil's Santos port, Latin America's largest, as congestion builds. The slowest Brazilian soy harvest in 10 years pushed export volumes into the sugar season.
Shipping costs are rising and arrivals may be delayed.
Port congestion raises freight and delays deliveries, adding to the cost of Brazilian soy and sugar supplies that buyers depend on. Tight Brazilian soy supply with near seven-year highs in prices supports firmer soybean and meal values.
reuters.comAna ManoMar 23, 2021After 206 past bullish logistics events, Soybeans moved a median +0.5% over 5 sessions (56% higher; middle half -1.3% to +2.6%), and +1.4% 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.
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.
