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Argentine soymeal crushing plants in Rosario have shut or downsized due to the US-China trade dispute and Argentina's export taxes. The US is undercutting Argentine soymeal prices in traditional markets such as Vietnam and Indonesia, while multinationals shift crushing to the US.
Reduced Argentine crush and export competitiveness tightens the link between US soymeal exports and global protein supply, supporting US soymeal prices relative to Argentina.
datamarnews.comMar 11, 2019After 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% over 20.
After 250 past neutral trade events, Soybeans moved a median +0.0% over 5 sessions (50% higher; middle half -1.4% to +1.6%), and -0.2% 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.
