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An Argentine oil workers union began a national strike over wages, affecting the southern part of the Rosario grains port. The northern Rosario area, which handles about 80% of Argentina's grain exports, is not affected.
The grain exporters' chamber CIARA criticized the strike and called for talks.
Argentina is the largest soymeal exporter, so any disruption to crushing or loading there can tighten global meal supply. Lost port days could support soymeal and soybean prices.
shipsandports.com.ngShips &, PortsSep 7, 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 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.
