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Four Argentine producer unions announced a four-day strike halting grain and livestock trade, starting Monday, in response to the soybean export duty increase from 30% to 33%. The article notes the tax rise came only three months after an earlier increase.
Leaders said the action would not include roadblocks.
A coordinated pause in grain sales can temporarily tighten export supply of soybeans and derivatives, supporting world prices. Repeated tax increases also raise concerns about future planting and investment.
batimes.com.arGeoffrey ComteMar 6, 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.
