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Three Argentine unions, including portside grain inspectors and oilseed workers, have been on strike since December 9 over wage claims. More than 100 cargo ships of agricultural products were delayed, affecting global exports of balanced feeds.
Companies and unions remained far apart, with no near-term talks expected as of December 22.
Delayed Argentine meal and grain shipments tighten global feed protein supplies and support soymeal and soybean prices until loadings resume.
feedstrategy.comFeed Strategy StaffDec 22, 2020After 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.
After 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 285 past bullish logistics events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.5%), and +0.8% 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.
