Loading…
Argentine soy crusher Vicentin has halted crushing at its three main plants, which have combined daily capacity of about 40,000 tonnes, as it restructures debt after defaulting earlier in December. Sources say the company is not producing and debt talks are being handled at the highest level with little disclosure.
Argentina is the world's largest exporter of soymeal and soyoil, so a sustained crush halt removes meal and oil supply and could tighten global feed protein and edible oil markets, supporting prices.
financialpost.comReutersDec 13, 2019After 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.
