# Amid Soybean Crunch, Argentina Loosens Foreign Currency Controls for Imports

> Argentina's agriculture secretariat said grain exporters can keep 25% of the foreign currency they generate in September to import soybeans. The measure follows a historic drought that halved the 2022/23 domestic soybean harvest. It takes effect by the following Monday and aims to ease strict currency controls.

- Date: 2023-08-29 · published 2023-08-29T12:00:00.000Z
- Category: policy · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/13955-amid-soybean-crunch-argentina-loosens-foreign-currency-controls-for-imports
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Soybean imports are needed to keep Argentina's crushing plants running, so easing currency rules supports meal and oil export flows and firms the import bid for soybeans.

## Read by commodity

- SBM: bullish ▲
- SBO: bullish ▲
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2021-01-05 | [Corn, soybean futures rally on low supply, Argentina export ban - Fastmarkets](https://feedsoft.ai/events/11543-corn-soybean-futures-rally-on-low-supply-argentina-export-ban-fastmarkets.md) | +4.4% | +2.9% |
| SOY | 2025-06-28 | [Argentina reinstates higher export duties for soybeans and corn - Buenos Aires Herald](https://feedsoft.ai/events/13853-argentina-reinstates-higher-export-duties-for-soybeans-and-corn-buenos-aires.md) | +0.4% | -3.8% |
| SOY | 2019-12-24 | [Argentina raise taxes on corn, wheat and soybean exports \| Farm Online \| ACT](https://feedsoft.ai/events/55425-argentina-raise-taxes-on-corn-wheat-and-soybean-exports-farm-online-act.md) | +1.0% | -2.6% |
| SOY | 2021-11-01 | [Argentina to Plant Lowest Soybean Acreage in 15 Years](https://feedsoft.ai/events/14071-argentina-to-plant-lowest-soybean-acreage-in-15-years.md) | -3.5% | +0.5% |
| SOY | 2020-10-02 | [Soybeans Bounce as Argentina Suspends Export Registrations \| Feed & Grain](https://feedsoft.ai/events/12139-soybeans-bounce-as-argentina-suspends-export-registrations-feed-and-grain.md) | +2.6% | +2.8% |
| SBM | 2025-06-28 | [Argentina reinstates higher export duties for soybeans and corn - Buenos Aires Herald](https://feedsoft.ai/events/13853-argentina-reinstates-higher-export-duties-for-soybeans-and-corn-buenos-aires.md) | -1.2% | -1.4% |
| SBM | 2019-12-24 | [Argentina raise taxes on corn, wheat and soybean exports \| Farm Online \| ACT](https://feedsoft.ai/events/55425-argentina-raise-taxes-on-corn-wheat-and-soybean-exports-farm-online-act.md) | -0.5% | -0.8% |
| SBM | 2025-01-01 | [China’s crop import curbs causing soybean shortage](https://feedsoft.ai/events/14701-china-s-crop-import-curbs-causing-soybean-shortage.md) | -3.4% | +1.0% |

## Sources

- agriculture.com: https://www.agriculture.com/amid-soybean-crunch-argentina-loosens-foreign-currency-controls-for-imports-7963477

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