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Inspection workers at Senasa, Argentina's phytosanitary inspection unit, began a three-day strike on Wednesday after failing to reach a labour deal with the government. Port operators said most ports would likely be unable to operate over the weekend, though Villa Constitucion in Santa Fe remained open under a different union.
Halting inspections shuts down most grain and oilseed export loading in the world's top soybean oil exporter and a major corn and soy exporter, delaying shipments and supporting nearby export basis and freight. Because Senasa inspects oilseed derivatives only on request, some soybean oil exports could continue, limiting the impact.
shipsandports.com.ngShips &, PortsJun 1, 2017
splash247.comDonal ScullyMay 31, 2017Not enough comparable past events yet for a historical read.
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.
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.
After 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.
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.
