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Rodolfo Rossi, president of the Argentine Soybean Chain Association (ACSOJA), outlined sector expectations for the new Argentine government. He called for reduced fiscal pressure, gradual elimination of export taxes (retenciones), and updates to the Seed Law.
Removing export taxes could raise Argentine soybean and meal export competitiveness and planted area over time, a longer-term bearish factor for world soymeal and oil prices.
global-agriculture.comGlobaladminFeb 6, 2024After 369 past bearish policy events, SOY moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% over 20.
After 223 past bearish policy events, SBM moved a median -0.3% over 5 sessions (45% higher; middle half -2.2% to +1.2%), and -0.6% over 20.
After 351 past bearish policy events, SBO moved a median -0.0% over 5 sessions (49% higher; middle half -1.7% to +1.8%), and -0.2% 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.
