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A truck owners' strike that began the previous week, demanding mandatory minimum grain hauling rates, slowed the loading of export cargo ships at Argentine ports on Thursday. The stoppage also slowed deliveries of soybeans to crushing and meal plants.
Argentina is the world's largest soymeal exporter, so slower loadings tighten near-term export supply and support soymeal and soybean prices for feed buyers.
reuters.comFeb 8, 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 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.
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.
