Argentina Decrees Export Duty Cuts on Grains and Soy Through 2028

Argentina's export duty cuts are now official. A new decree sets a staggered schedule of export duty cuts that runs to the end of 2028.

Which crops are covered. Soy, corn, wheat, barley, sorghum, sunflower and some biofuels are all in the decree, so the cuts reach most of the feed grain and meal complex.

Wheat and barley: 7.5% to 5.5%. The two small grains see their duty fall from 7.5% to 5.5% under the schedule. The cuts are staggered rather than applied all at once.

Why feed buyers should care. Lower export taxes make Argentine grain and meal more competitive abroad. That can mean more export selling and pressure on world meal and grain prices.

Takeaway: a long, predictable runway. A schedule through 2028 gives farmers clarity, which supports selling over the coming years. Our read on SBM, SOY, CORN, WHEAT, BARLEY and SORGHUM is bearish.