# In Soy We Trust | Wilson Center

> A Wilson Center commentary says Argentine farmers are storing soybeans rather than selling due to strict capital controls, high export taxes and an overvalued official peso. Farmers expect a steep devaluation that would raise the peso value of stored crop. Government officials had temporarily cut export taxes by 3 percent in October to encourage sales.

- Date: 2020-11-06 · published 2020-11-06T12:00:00.000Z
- Category: policy · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/49998-in-soy-we-trust-wilson-center
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Farmer storage restricts Argentine soymeal and oil export availability, keeping global supply tighter and supporting prices until selling picks up.

## Read by commodity

- SBM: bullish ▲
- SBO: bullish ▲
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2018-03-26 | [The EU must act on new evidence of soy’s destructive role in the tropics - Fern](https://feedsoft.ai/events/66021-the-eu-must-act-on-new-evidence-of-soy-s-destructive-role-in-the-tropics-fern.md) | -0.2% | -1.6% |
| SBM | 2023-02-25 | [Soybean crush margins plummet in wake of EPA ruling \| The Western Producer](https://feedsoft.ai/events/15330-soybean-crush-margins-plummet-in-wake-of-epa-ruling-the-western-producer.md) | -0.4% | -9.6% |
| SBM | 2021-09-25 | [Dreyfus, others shut soy crushers in China on power curbs - Grainews](https://feedsoft.ai/events/45120-dreyfus-others-shut-soy-crushers-in-china-on-power-curbs-grainews.md) | -2.7% | -2.3% |
| SBM | 2020-01-09 | [Argentine soybeans facing tax increases \| The Western Producer](https://feedsoft.ai/events/54929-argentine-soybeans-facing-tax-increases-the-western-producer.md) | +1.1% | -2.9% |
| SBM | 2020-06-10 | [Argentina stirs up giant soy market with state takeover](https://feedsoft.ai/events/52447-argentina-stirs-up-giant-soy-market-with-state-takeover.md) | +0.3% | +1.6% |
| SBO | 2024-07-11 | [Corn Was King: The Transition to Soy in U.S. Production Agriculture - Center for Commercial Agriculture](https://feedsoft.ai/events/15197-corn-was-king-the-transition-to-soy-in-u-s-production-agriculture-center-for.md) | -1.2% | -5.0% |
| SBO | 2020-01-09 | [Argentine soybeans facing tax increases \| The Western Producer](https://feedsoft.ai/events/54929-argentine-soybeans-facing-tax-increases-the-western-producer.md) | -2.8% | -8.8% |
| SBO | 2025-07-19 | [Soy-based biofuels score two wins; one with EPA, another in Congress  - Indiana Corn and Soy](https://feedsoft.ai/events/15108-soy-based-biofuels-score-two-wins-one-with-epa-another-in-congress-indiana-corn.md) | +1.6% | -0.9% |

## Sources

- wilsoncenter.org: https://www.wilsoncenter.org/blog-post/soy-we-trust

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.