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Argentine oil mills are processing only about half their normal soybean volume because community blockades and police restrictions are stopping trucks from reaching factories during the COVID-19 lockdown. Buyers are already seeking alternative suppliers, with Brazil seen as a likely beneficiary.
Argentina supplies the largest share of world soybean meal, so a sharp cut in its output tightens global meal supply and lifts prices, while Brazilian exporters gain business.
zmp.deMar 30, 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.
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.
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.
