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Argentine soybean exporters liquidated a record $1.05 billion on May 31 under the third 'agro dollar' program, which offers a preferential rate of AR$300 per dollar. Total liquidations under the program reached $5.08 billion.
The measure aims to boost exports and build reserves during a historic drought.
Preferential-rate incentives pull forward soybean and meal export sales, adding supply to world meal markets while the crop is drought-hit. The rush of selling tends to pressure meal prices in the near term.
buenosairesherald.comBuenos Aires HeraldMay 31, 2023After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% over 20.
After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% 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.
