A strike by Argentina’s oilseed workers and export soy-processing plants on the Parana River is scheduled to come to an end on Wednesday morning, relieving a queue of bulkers on the main waterway.

The unionised workers and the companies said on Tuesday that they would reach a government-mediated agreement to end a more than two-week stand-off, Reuters has reported.

Sources with Argentina's Ministry of Labour confirmed on Tuesday evening that the stalemate is set to end at 6am local time on Wednesday.

Factory workers in Rosario, Argentina's main agricultural export centre on the Parana River, walked out on 9 December, demanding wage rises to make up for inflation and Covid-19 risks.

The labour ministry hosted a meeting with hopes of normalising exports and ending a strike that has led to more than 140 handysize and panamax bulkers waiting on the river to load, according to Reuters.

The river is 4,880 kilometres long and runs through Brazil, Paraguay and Argentina.

A spokesman for the Federation of Oil Workers, which is picketing with the Union of Oil Workers and Employees, said the union had yet to formally receive the latest offer.

Argentina’s influential CIARA-CEC chamber of soy oil manufacturers and exporters on Sunday proposed further increases in its wage and bonus proposals, Reuters reported.

The strike has impacted operations at major traders such as Cargill, Bunge and Louis Dreyfus and has sent soybean prices soaring to six-year highs on the Chicago exchange.

Argentina is the leading international supplier of soymeal livestock feed used to feed pigs, cattle and poultry from Europe to South East Asia.

It is also a major exporter of corn, wheat and raw soybeans.