# Brazil Soy Prices: Tax Change Seen Making US More Competitive - Bloomberg

> Brazil's president signed a provisional measure limiting exporters' and processors' ability to monetize tax credits. Amius Ltd says merchants will likely raise Brazilian soy prices to compensate, making Brazilian beans less competitive with US supplies.

- Date: 2024-06-07 · published 2024-06-07T12:00:00.000Z
- Category: policy · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/29784-brazil-soy-prices-tax-change-seen-making-us-more-competitive-bloomberg
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

A likely rise in Brazilian soy prices could shift export demand toward US soybeans and support soybean and meal prices in the short term.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- USDBRL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2022-03-14 | [Top Exporter of Soy Meal, Oil Halts Cargoes as Prices Surge - Bloomberg](https://feedsoft.ai/events/12629-top-exporter-of-soy-meal-oil-halts-cargoes-as-prices-surge-bloomberg.md) | -1.3% | -0.1% |
| SOY | 2024-01-22 | [Soybean Oil Rises With More US Demand Forecast for Biofuels - Bloomberg](https://feedsoft.ai/events/32190-soybean-oil-rises-with-more-us-demand-forecast-for-biofuels-bloomberg.md) | -0.3% | -3.4% |
| SOY | 2026-10-27 | [Growing US biofuel production intensifies competition for soybean oil](https://feedsoft.ai/events/17179-growing-us-biofuel-production-intensifies-competition-for-soybean-oil.md) | +0.5% | — |
| SOY | 2025-01-21 | [Record 2025 soybean crush pressures Brazil soybean meal prices](https://feedsoft.ai/events/11807-record-2025-soybean-crush-pressures-brazil-soybean-meal-prices.md) | +1.1% | +0.4% |
| SOY | 2026-01-21 | [Biofuel: Staying Competitive - American Soybean Association](https://feedsoft.ai/events/15057-biofuel-staying-competitive-american-soybean-association.md) | +1.4% | +7.6% |
| SBM | 2022-03-14 | [Top Exporter of Soy Meal, Oil Halts Cargoes as Prices Surge - Bloomberg](https://feedsoft.ai/events/12629-top-exporter-of-soy-meal-oil-halts-cargoes-as-prices-surge-bloomberg.md) | -1.7% | -4.7% |
| SBM | 2017-11-27 | [Soybean prices to trade higher: Angel Commodities- Moneycontrol.com](https://feedsoft.ai/events/68081-soybean-prices-to-trade-higher-angel-commodities-moneycontrol-com.md) | +1.4% | -3.4% |
| SBM | 2021-06-17 | [China’s Plummeting Hog Prices Trigger New Mechanism That May Lead to State Buying  - Caixin Global](https://feedsoft.ai/events/46560-china-s-plummeting-hog-prices-trigger-new-mechanism-that-may-lead-to-state.md) | -5.2% | -2.7% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2024-06-07/brazil-s-tax-change-to-shift-soybean-demand-to-us-amius-says

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.