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Four Argentine farmers' unions began a four-day halt in grain and livestock marketing on Monday, March 9. The action protests the rise in soybean and derivative export duties from 30% to 33%.
It is the first agricultural strike against President Alberto Fernández's government.
Withholding sales removes soybean and product supply from export markets for several days, which can firm prices. Ongoing tax friction also raises the risk of further supply disruption during harvest.
batimes.com.arGeoffrey ComteMar 9, 2020After 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.
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.
