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Javier Milei won Argentina's presidential runoff and has promised radical reforms, including relaxing export taxes of 33% on soybeans and 31% on meal and oil. Grain trade has stalled ahead of his December 10 inauguration as farmers hold supplies.
Expected export tax cuts would let more Argentine soy products reach world markets, which is bearish for soymeal and soyoil prices over time.
graincentral.comGuest AuthorNov 28, 2023After 223 past bearish policy events, Soybean Meal 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, Soybean Oil 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.
