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Argentina replaced a 4 peso per tonne tax on corn, barley and sorghum exports with a 12 percent export levy under decree 37/2019. Brazil's corn shortage could push first-quarter corn imports to 1.1 million tonnes, and Cofco and others are looking to expand corn-to-ethanol capacity there.
A higher Argentine export levy reduces farmer selling and export flows, supporting feed grain prices, while Brazil's corn import needs tighten global corn supplies.
grains.orgDec 19, 2019grains.orgDec 19, 2019Not enough comparable past events yet for a historical read.
After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% over 20.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
