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More than 90 cargo ships were waiting to load soy and corn at Rosario on February 9 as a truck owners' strike continued for over a week. The strike, aimed at forcing mandatory minimum grain hauling rates, also slowed soybean deliveries to crushing plants.
Export delays and slower crush deliveries reduce near-term supply of soymeal, soyoil and corn, supporting prices and raising freight costs.
maritimeprofessional.comFeb 9, 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 285 past bullish logistics events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.5%), and +0.8% over 20.
Not enough comparable past events yet for a historical read.
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.
