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Soymeal crushing plants in Rosario, Argentina, along the Parana River have been idled and some workers laid off as the industry loses export share. Chinese retaliatory tariffs on US soybeans left millions of tonnes stranded in the US and pushed prices down, making US crushing and soymeal exports to Southeast Asia more competitive.
US soymeal exports gaining share in Southeast Asia at Argentina's expense tightens competition in the meal market and keeps soymeal export prices under pressure while the trade dispute continues.
esmmagazine.comDayeeta DasMar 10, 2019After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% over 20.
After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% 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.
