Loading…
A union representing Argentine grain port inspectors asked the government to suspend port activities for 15 days because of the coronavirus pandemic. The union called most port work non-essential, and growers in the Pampas opposed a shutdown.
The government had no immediate comment.
A suspension would cut shipments from the world's largest soymeal exporter and a major corn and soybean supplier, tightening global supply and lifting soymeal and soybean prices as importers turn to rivals.
manitobacooperator.caHugh Bronstein, Maximilian HeathApr 6, 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 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.
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.
