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A nationwide strike in Argentina over austerity measures on May 29 shut airports and halted work at major grain ports. Grain exports stopped at Rosario, the country's main agro-industrial hub.
Argentina is cited as the third-largest soybean exporter for 2018-19 with 6.8 million tonnes.
A halt at Rosario delays Argentine soybean and meal shipments, tightening near-term export supply and supporting world soy and meal prices. The effect is likely temporary if ports resumed quickly.
soyagrainsalliance.orgKatelyn EngquistJun 4, 2019After 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.
