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Argentina's government has not ruled out raising taxes on food exports to control high inflation, according to Deputy Chief of Staff Cecilia Todesca in a radio interview. The comments kept the threat of higher export levies on grains alive.
Possible export tax hikes on soy and corn could shift Argentine export flows and farmer selling, supporting world soymeal and corn prices if exports slow.
reuters.comFeb 4, 2021After 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 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% over 20.
After 842 past bullish policy events, Soybean Oil moved a median +0.2% over 5 sessions (52% higher; middle half -1.6% to +2.1%), and -0.5% 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.
