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Bunge is reported to be planning to shut its soy crushing plant at the port of Ramallo in Buenos Aires province, affecting about 60 workers. The report, citing Reuters, has not been confirmed by Bunge.
A union representative said workers were informed on July 23 and the union plans a protest strike that could extend to other Argentine port areas.
Closing a crushing plant removes processing capacity from one of Argentina's major soymeal and soyoil hubs, which can tighten meal and oil availability at the margin and modestly affect export flows. The impact is limited to a single plant, but a broader strike could disrupt port crush and shipping.
world-grain.comEric SchroederJul 25, 2018After 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 230 past neutral logistics events, Soybeans moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.0%), and +0.1% 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.
