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Argentine soybean and corn farmers could receive full export tax relief through Dec. 31, 2022 under a bill introduced in parliament, applying to regions with drought emergencies.
Severe drought has hurt crop ratings, with only 31% of soy in good-to-excellent condition, and output could fall to 43 million mt.
Export tax relief could boost farmer selling and Argentine export flows of soy and corn, while drought-driven output losses tighten global supply and support prices.
ukragroconsult.comJan 20, 2022After 356 past bullish policy events, Soybeans moved a median +0.1% over 5 sessions (53% higher; middle half -1.2% to +2.3%), and -0.9% over 20.
After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% over 20.
After 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.
