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The union of Argentine port-side grain inspectors, Urgara, ended a month-long wage strike after a contract deal with export companies. The deal allows soy, corn and wheat shipments through key ports such as Bunge and Cargill terminals to return to normal.
Resumed exports from Argentina, the top soymeal supplier, ease tightness in global soymeal and corn markets and reduce the premium buyers were paying for prompt cargoes.
feedandgrain.comJan 7, 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.
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.
