Loading…
Argentine farm groups are discussing a grains trade strike to protest an extension of the beef export cap until the end of October. The Cattle Site reports that Argentina is the world's top processed soy exporter and that beef prices are up almost 40% this year.
The farm bodies are also considering a halt to cattle trading.
A grain sales strike would reduce Argentine soybean, meal and corn export flows and support world prices, while beef export restrictions weigh on Argentine cattle prices. The strike is only under discussion, so the effect depends on whether it goes ahead.
thecattlesite.comGlobal Ag MediaSep 1, 2021After 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 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 30 past bearish policy events, Live Cattle moved a median -0.8% over 5 sessions (43% higher; middle half -2.0% to +1.1%), 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.
