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Argentina's trade flows have slowed as exporters and importers hold back amid fears of a devaluation under tight capital controls. Exports have dipped since May and the trade surplus fell to about $600 million in September and October from above $1.4 billion earlier.
Grain and oilseed farmers holding back sales reduce near-term export supply from Argentina, which tends to support world soymeal, soyoil and corn prices.
whtc.comSyndicated ContentDec 3, 2020After 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% over 20.
After 224 past bullish trade events, Soybean Oil moved a median +0.4% over 5 sessions (54% higher; middle half -1.5% to +2.1%), and -0.5% over 20.
After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), 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.
