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ADM's chairman said on a November 2 call that Argentina's delayed soybean export tax cut and new northern-province incentives create a fluid situation. ADM also reported that Argentine meal was more competitive during the quarter, which hurt its oilseeds results.
Argentine export taxes and meal competitiveness affect world meal supply and pricing against US product. Cheaper Argentine meal would pressure SBM prices, and any change in Argentine planting would affect future soybean supply.
world-grain.comEric SchroederNov 4, 2016After 223 past bearish policy events, Soybean Meal moved a median -0.3% over 5 sessions (45% higher; middle half -2.2% to +1.2%), and -0.6% over 20.
After 554 past neutral policy events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.4% to +1.6%), 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.
