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Argentina's soybean crushing sector faces ongoing recession, a dual currency system, high export taxes and drought-related logistics costs on the Parana River. S&P Global Platts nonetheless expects soybean oil and meal output and exports to rise in 2021-22.
Argentina is the largest soybean meal exporter, so reduced crushing capacity utilization and high export taxes (33% on soybeans, 31% on meal and oil) can tighten meal and oil export supply and support international prices.
foodnavigator.comJane ByrneJan 4, 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.
After 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.
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.
