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Argentina's port-side grain inspectors and export companies reached a deal to end a strike that began December 9, 2020. The agreement allows soy, corn and wheat shipments to resume, and a parallel oilseed workers deal included a 25% salary increase from January to August.
Restored grain and oilseed shipments from Argentina reduce the supply squeeze in export markets, which weighs on soybean and meal prices.
world-grain.comHolly Demaree-SaddlerJan 8, 2021After 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.
After 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 359 past bearish logistics events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -1.5% to +1.5%), and -0.5% over 20.
After 137 past bearish logistics events, Wheat (SRW) moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.0%), and +0.0% 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.
