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Argentine oilseed and grain inspection unions staged a 48-hour URGARA work stoppage that coincided with a three-day strike by the government sanitary inspection union Senasa. The strikes halted movement of soybeans, soymeal and other grains during harvest.
Separately, weather closed ports in southern Brazil, and a Renova soy crushing plant expansion was financed.
Port stoppages during peak harvest delay Argentine soymeal and oil exports, supporting prices, while Brazilian port closures add to meat export disruption.
drovers.comAngie Stump DentonNov 13, 2020After 167 past bullish logistics events, SBM moved a median +0.5% over 5 sessions (54% higher; middle half -1.8% to +2.9%), and -1.2% over 20.
After 85 past bullish logistics events, SBO moved a median +0.7% over 5 sessions (64% higher; middle half -1.3% to +2.7%), and +3.1% over 20.
After 206 past bullish logistics events, SOY 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.
