# Argentina: Soybean Industry Finds a Friend in China

> On Aug. 22, the United States imposed 50-64 percent import tariffs on Argentine biodiesel, citing unfair competition from Argentine subsidies. The decision left Argentina's biodiesel industry with about 1.5 million tons of soybean oil needing a new buyer. On Aug. 24, China's state-owned Sinograin announced it would resume soybean oil imports from Argentina.

- Date: 2017-08-25 · published 2017-08-25T12:00:00.000Z
- Category: trade · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/69283-argentina-soybean-industry-finds-a-friend-in-china
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Barge Freight (St. Louis)](https://feedsoft.ai/c/BARGE.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

The loss of the US biodiesel market leaves Argentine soybean oil supply looking for buyers, and Chinese demand helps absorb that surplus, which supports Argentine soyoil prices. Higher US tariffs on biodiesel also weigh on the outlook for US-bound Argentine soy-based fuel.

## Read by commodity

- SBO: bullish ▲
- SOY: neutral
- CORN: neutral
- BARGE: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2019-09-13 | [China's soybean purchase keeps rally alive](https://feedsoft.ai/events/10854-china-s-soybean-purchase-keeps-rally-alive.md) | +3.9% | +5.5% |
| CORN | 2021-10-28 | [What The Inverted Market Means if You’re Buying Argentina Soybean Right Now?](https://feedsoft.ai/events/44398-what-the-inverted-market-means-if-you-re-buying-argentina-soybean-right-now.md) | +4.1% | +7.6% |
| CORN | 2020-09-02 | [Chinese market reopened for Argentine sorghum](https://feedsoft.ai/events/51169-chinese-market-reopened-for-argentine-sorghum.md) | +0.4% | +5.4% |
| CORN | 2019-12-10 | [Soybeans extend gains as Chinese purchases stir hopes of U.S.-China deal \| Financial Post](https://feedsoft.ai/events/12382-soybeans-extend-gains-as-chinese-purchases-stir-hopes-of-u-s-china-deal.md) | +4.3% | +3.9% |
| CORN | 2020-11-30 | [Soybeans End Flat \| Feed & Grain](https://feedsoft.ai/events/50179-soybeans-end-flat-feed-and-grain.md) | -1.5% | -1.0% |
| SOY | 2019-04-24 | [Argentina seeks soybean sales in China - DatamarNews](https://feedsoft.ai/events/59437-argentina-seeks-soybean-sales-in-china-datamarnews.md) | -2.4% | -4.6% |
| SOY | 2026-10-01 | [Who Controls Argentina’s Soy Export Industry? \| Econosur](https://feedsoft.ai/events/13771-who-controls-argentina-s-soy-export-industry-econosur.md) | +0.3% | -5.3% |
| SOY | 2021-11-03 | [Argentina: Soybean exports in 2020/21 reached 33.1](https://feedsoft.ai/events/14073-argentina-soybean-exports-in-2020-21-reached-33-1.md) | -3.6% | -1.3% |

## Sources

- ajot.com: https://ajot.com/news/15-mile-section-of-the-mighty-mississippi-is-being-called-the-ag-coast
- library.stratfor.com: https://library.stratfor.com/article/argentina-soybean-industry-finds-friend-china

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.