Loading…
Loading of more than 140 agricultural export ships in Argentina has been stalled since Dec. 9 by a port-side oilseed workers' strike, according to the head of the local soymeal manufacturers' chamber.
The stoppage came on the eve of talks on a new wage contract.
Argentina is a major soymeal and soy exporter, so a prolonged halt delays shipments and tightens near-term supply for feed buyers. The delay supports soymeal and soybean prices until ports resume loading.
reuters.comHugh BronsteinDec 28, 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.
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.
