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Argentine President Javier Milei announced at the Buenos Aires Grain Exchange anniversary event that export duties on wheat and barley will fall from 7.5% to 5.5% starting June 2026. He also said soybean duties will be reduced gradually by a quarter to half a point per month from January 2027, subject to tax revenue and fiscal balance.
Lower export taxes raise farm-gate returns and encourage Argentine sellers to move wheat, barley and soy into export channels, adding supply to world markets. That is mildly bearish for wheat, barley and soybean prices and for soybean meal, though the soybean cut is gradual and conditional.
infonoroeste.com.arNov 2, 2026After 122 past bearish policy events, WHEAT moved a median -0.3% over 5 sessions (44% higher; middle half -1.9% to +1.2%), and +0.4% over 20.
Not enough comparable past events yet for a historical read.
After 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.
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.
