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A general strike in Argentina, the first since President Macri took office, paralyzed the country on April 6, 2017. Customs agents who run the grain export sector walked off the job, halting exports and imports for 24 hours.
Protesters clashed with police over austerity measures and wage demands during a World Economic Forum meeting in Buenos Aires.
Argentina is the world's top soymeal exporter and a major soybean supplier, so a one-day halt in customs clearance delays shipments and can briefly firm soymeal prices. The effect is typically short-lived unless the labor action extends beyond a day.
stabroeknews.comStabroek NewsApr 7, 2017After 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.
