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Argentina's biggest soybean meal and oil exporters are dealing with logistical problems as the harvest approaches. A nationwide lockdown and local municipalities restricting movement are complicating crushing and shipping of tens of millions of tonnes of product.
Exporters say grain terminals could be affected.
Disruption to crushing and port operations in Argentina could reduce meal and oil export flows during peak season, supporting soymeal and soyoil prices. The effect depends on whether terminals keep operating normally.
batimes.com.arJames GraingerMar 24, 2020
bloomberg.comJonathan GilbertMar 23, 2020After 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 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.
Lockdown logistics problems for Argentina's largest soymeal and oil exporters raised supply disruption concerns, though dated just after the window.
Lockdown-related crushing and shipping problems at Argentina's biggest soy exporters raise the risk of reduced meal and oil exports, which is bullish for US soy.
