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Grain inspectors and tugboat pilots in Argentina ended lengthy strikes, allowing port operations to restart after weeks of disrupted shipments. Exporters welcomed the resumption of shipments from the world's largest soy product supplier.
Resumed loadings ease near-term supply constraints on soymeal and soybeans, which removes some upward price pressure from the export disruption.
bloomberg.comJonathan GilbertJan 6, 2021After 34 past bearish logistics events, Soybean Meal moved a median +0.4% over 5 sessions (53% higher; middle half -1.8% to +2.6%), and -1.2% over 20.
After 297 past bearish logistics events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.5% to +1.8%), and +0.7% 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.
