
Argentine soybean exports to China have run ahead of 2024 levels since April, with Chinese crushers securing around 20 Argentine cargoes in late September. Buenos Aires has temporarily suspended export taxes, and US September sales were minimal.
A temporary export tax suspension and heavy Chinese buying of Argentine beans lift South American soybean and meal supplies to China, supporting soymeal demand while limiting US sales.
After 369 past bearish policy events, Soybeans moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% over 20.
After 223 past bearish policy events, Soybean Meal moved a median -0.3% over 5 sessions (45% higher; middle half -2.2% to +1.2%), 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.