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An Argentine maritime workers union agreed to compulsory conciliation, ending a 72-hour strike that had halted shipments at three terminals in Rosario, the country's main grains port. The stoppage affected terminals operated by companies including ADM, Bunge and COFCO.
A 15-day negotiation period over wages with the government now begins.
Rosario handles about 80% of Argentina's agricultural exports, so even a brief halt delays soymeal and soyoil shipments and can tighten nearby spot supply. With the strike ended and talks under way, the price effect should be short-lived unless negotiations fail.
hrreporter.comJun 4, 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 284 past neutral logistics events, Corn moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.4%), and -0.2% 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.
