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Rabobank reports that Argentina's agribusiness sector has been classified as essential during its nationwide COVID-19 quarantine, keeping grain transport moving after a federal decree resolved truck restrictions. Lenders are becoming more selective and borrowing costs have risen, though growers face few liquidity constraints because many sold winter crops early.
Essential-service status keeps Argentine grain and meal flowing to ports, limiting supply disruption. Higher credit costs could slow farm input purchases and marketing, a modest factor for meal and corn export availability.
rabobank.comWagner YanaguizawaApr 22, 2020After 48 past neutral logistics events, Soybean Meal moved a median +0.7% over 5 sessions (60% higher; middle half -1.0% to +2.5%), and +0.7% over 20.
After 284 past neutral logistics events, Corn moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.4%), and -0.2% 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.
