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Argentina raised its export tax on soybean oil and meal by two percentage points to 33% through the end of the year, according to the official gazette. The government said the aim is to combat domestic inflation.
A higher export tax reduces Argentine export supply of soymeal and soyoil, which are the world's leading supplies, tending to lift international meal and oil prices while weighing on domestic Argentine prices.
reuters.comMar 19, 2022After 172 past bullish policy events, SBM moved a median +0.0% over 5 sessions (50% higher; middle half -1.5% to +1.7%), and -0.8% over 20.
After 842 past bullish policy events, SBO moved a median +0.2% over 5 sessions (52% higher; middle half -1.6% to +2.1%), and -0.5% 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.
