
Argentina's agro-export complex earned US$3.228 billion in September, up 17.3% from August, with year-to-date receipts of US$22.276 billion, down 22% year on year. Soybean crushing in August reached 4.25 million tonnes, and Argentina is reportedly gaining share against Brazil in soybean meal supply to Europe.
European buyers front-loading soybean meal purchases from Argentina could tighten nearby meal supply and support prices, while shifting trade flows away from Brazil. Strong Argentine crush also signals ample meal availability.
After 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% over 20.
After 250 past neutral trade events, Soybeans moved a median +0.0% over 5 sessions (50% higher; middle half -1.4% to +1.6%), and -0.2% 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.