# Soy, corn and wheat drop as Argentina cuts export taxes; set for weekly gains - Markets - Business Recorder

> Chicago soybeans, corn and wheat fell on Friday after Argentina cut grain export taxes, though all three were set for weekly gains. Corn hit a 15-month high the previous session. Hot, dry weather in Argentina has damaged crops in recent weeks.

- Date: 2025-01-24 · published 2025-01-24T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/13883-soy-corn-and-wheat-drop-as-argentina-cuts-export-taxes-set-for-weekly-gains
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Argentine tax cuts add export supply, but ongoing drought in a major exporter supports prices, leaving the weekly trend higher.

## Read by commodity

- SOY: neutral
- CORN: neutral
- WHEAT: neutral

## Sources

- brecorder.com: https://www.brecorder.com/news/40344411

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.