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On October 5, 2020 Argentina's executive issued Decree 790/2020 temporarily cutting the export tax on soybeans and derivatives, with staged increases scheduled to restore the original rates. The measures include a reduction in effect through October and a phased schedule running into 2021.
Lower export taxes encourage Argentine farmers to sell soybeans and meal, boosting export supply and pressuring world soymeal and soyoil prices.
globaltradealert.orgOct 5, 2020After 222 past bearish policy events, SBM moved a median -0.3% over 5 sessions (45% higher; middle half -2.1% to +1.2%), and -0.6% over 20.
After 351 past bearish policy events, SBO moved a median -0.0% over 5 sessions (49% higher; middle half -1.7% to +1.8%), and -0.2% over 20.
After 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.
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.
