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Argentine sellers raised soymeal and soyoil offers 2-3% after an explosion at the Bunge and AGD joint venture crusher at San Lorenzo Terminal 6. The incident is expected to reduce capacity for several weeks, with soymeal offers rising to $453/mt from $440/mt.
Lost crush capacity at the Up River complex, which handles about half of global soymeal and soyoil trade, tightens export supply and supports meal and oil prices.
fastmarkets.comRei GeyssensOct 21, 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.
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.
