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Urgara, the union for Argentina's grain receivers, says it will resume direct industrial action after salary talks with the private ports chamber CPPP broke down. The union has not set dates but says it is carrying out sudden strikes at grain ports.
The dispute centres on a pandemic bonus that the chamber offered to pay only partly.
Unannounced port strikes in Argentina can slow soymeal and soyoil exports and raise freight and delivery uncertainty, which tends to firm global soy product prices.
fastmarkets.comJuan Pedro TomasNov 9, 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 85 past bullish logistics events, Soybean Oil 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, 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.
