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Argentine Rural Society filed a court case asking that grain export taxes be ruled unconstitutional. The group says the taxes have been charged illegally since January 1, because the deadline to set rates lapsed and the 2022 budget did not extend them.
Current rates are 33% on soybeans, 31% on meal and oil, and 12% on wheat and corn.
Export taxes shape how much Argentine grain is sold abroad and when. A ruling against the taxes would change farmer selling and export flows, but the case must still pass several court steps, so near-term price effects are limited.
world-grain.comSusan ReidyFeb 23, 2022After 554 past neutral policy events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.4% to +1.6%), and +0.6% over 20.
After 206 past neutral policy events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.3% to +1.8%), and -0.7% over 20.
After 439 past neutral policy events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +1.2%), and +1.1% over 20.
After 137 past neutral policy events, Wheat (SRW) moved a median -0.4% over 5 sessions (43% higher; middle half -1.9% to +1.2%), and +0.3% 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.
