Loading…
Argentina's soybean association ACSOJA says the country could reach 70 million tonnes of soybeans within a decade if the government cuts the tax burden. Current export duties are 33% for soybeans and 31% for meal and oil.
The association's head also cited technology, better seed and logistics investment as drivers.
A longer-term production rise in the top soymeal and soyoil exporter would add to future global oilseed supply, which is mildly bearish for soy complex prices. The near-term effect is limited because the target depends on policy changes not yet made.
fastmarkets.comJuan Pedro TomasSep 24, 2021After 369 past bearish policy events, SOY 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, SBM 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.
