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Argentina's oilseed chamber CIARA said U.S. Commerce Department duties of up to 64.17 percent on Argentine biodiesel imports would lower local soyoil and soybean prices. Argentina is the top soyoil and soymeal exporter, and the government is negotiating with the US.
Lost access to the US biodiesel market reduces Argentine soyoil export demand, which pressures world soyoil and soybean crush values and may shift meal export flows.
biodiesel.com.arEmilioSep 1, 2017After 152 past bearish trade events, Soybean Oil moved a median -0.2% over 5 sessions (47% higher; middle half -2.1% to +2.1%), and -0.1% over 20.
After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% 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.
