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Argentina's decree 464/2019 cuts export duties on 207 tariff items from regional economies, including rice, fruits and nuts. The duty on soy products rises from $3 to $4 per dollar exported, and the payment deadline is extended from 60 to 90 days.
A higher Argentine export levy on soy products discourages processing and exports of meal and oil, which can support soymeal and soyoil prices while shifting flows toward whole beans.
aduananews.comAduanaNewsJul 11, 2019After 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.
After 842 past bullish policy events, Soybean Oil moved a median +0.2% over 5 sessions (52% higher; middle half -1.6% to +2.1%), and -0.5% over 20.
After 554 past neutral policy events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.4% to +1.6%), and +0.6% over 20.
After 100 past neutral policy events, Rough Rice moved a median +0.0% over 5 sessions (51% higher; middle half -2.6% to +2.3%), and +0.7% 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.
