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Argentina's government is reportedly unlikely to delay its planned reduction of the soybean export tax, according to a USDA Foreign Agricultural Service attaché report. The report also describes Argentina's trade-opening measures since 2015.
A confirmed export tax cut would lower Argentine farm-to-port costs and could encourage more soybean and meal exports, adding supply to global markets and weighing on soy and meal prices.
fas.usda.govJun 4, 2018After 369 past bearish policy events, SOY moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% over 20.
After 222 past bearish policy events, SBM moved a median -0.3% over 5 sessions (45% higher; middle half -2.1% to +1.2%), and -0.6% 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.
