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Argentine exports of grain, oilseeds and derivatives fell 17% month-on-month to $3.16 billion in July, and 10% year-on-year, according to the CIARA-CEC chamber. The chamber blamed weather, trucker roadblocks and delayed export tax rebates.
Lower Argentine export flows tighten near-term supply of soy products, which is supportive for meal and oil prices, while crusher idle capacity signals weak domestic processing.
brecorder.comReutersAug 2, 2022After 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% over 20.
After 224 past bullish trade events, Soybean Oil moved a median +0.4% over 5 sessions (54% higher; middle half -1.5% to +2.1%), and -0.5% over 20.
After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% 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.
