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Argentina introduced a corn export tax of 4 pesos per U.S. dollar, about 10.5%, and export registrations rose sharply. Brazil's freight tax increase is expected to add about $818 million in costs.
Canada's drought has pushed hay prices up and feed barley prices up 30%.
Argentina's export tax reduces its corn competitiveness and can support world corn prices. Canadian feed barley and forage shortfalls tighten feed supplies, supporting barley prices.
grains.orgSep 6, 2018grains.orgSep 6, 2018Not 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.
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.
