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Argentina's government suspended soybean meal and oil exports, citing rumors of a tax increase amid soaring raw material costs linked to Russia's invasion of Ukraine. The suspension is expected to prevent firms from registering future exports before the tax rise takes effect.
A sudden export freeze from the largest soymeal exporter removes significant supply from world markets, pushing up global soymeal and soyoil prices.
batimes.com.arRachel CortesMar 14, 2022After 172 past bullish policy events, Soybean Meal 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, Soybean Oil 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.
