The port strike in Rosario, Argentina backed up ships waiting to load soybean products last week and the strike is expected to continue at least another 24 hours. “It’s slowing down the shipments of soybean meal out of there,” said DuWayne Bosse, market analyst, BOLT Marketing. “That means more will be bought from the U.S. and the markets responded.” This port strike hasn’t had as much attention as other strikes until it hit the two week mark. “Think of 100 ships in the sea just waiting to come in. Before that, other strikes were around 24 hours, not a big deal. The timing of this one helped rally the markets.”
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