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Labour action by workers at local crushing mills has caused some backups at the port of Villa Gobernador in Argentina. Ship delays are expected as a result of the strikes at Cargill's facility.
Strikes at Argentine crushing plants and port terminals slow soymeal and soyoil shipments, which can lift near-term meal and oil prices and freight costs.
tradewindsnews.comMichael AngellJan 31, 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.
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.
