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URGARA announced a 24-hour strike of Argentine port workers starting at midnight after failing to negotiate with the Chamber of Private Ports. The union said it will not drop demands for higher purchasing power and shorter hours, and it will meet the Labor Ministry on Tuesday.
A one-day halt at Argentina's grain ports delays soymeal and corn loadings, which can support meal and corn prices in the short term.
brownfieldagnews.comSep 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 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.
Confirms the 24-hour Argentine port stoppage, a supply disruption for meal exports.
