Milei Needs Rush of Soy Dollars to Calm Peso Selloff in Argentina

[import export]

Hopefully soy prices come up so farmers sell. They really need this cash!

Milei Needs Rush of Soy Dollars to Calm Peso Selloff in Argentina​

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www.bloomberg.com

 

[Uncle Wong]

I thought the government got rid of some taxes for the farmers?

 

[Betsy Ross]

I thought the government got rid of some taxes for the farmers?

That was just a small reduction. Every little bit helps but taxes are still too high.

Government temporarily reduces export duties in boost for farmers

Economy Minister Luis Caputo confirms that Argentina will temporarily lower export duties.

www.batimes.com.ar

 

[Bingo]

Wow had no idea soy prices were so low!

 

[Finance Prof]

Wow had no idea soy prices were so low!

Trump's trade wars didn't help! They caused soybean prices to go down because China buys a ton. They put a 34% tariff on US agricultural products which caused Chinese demand to go down leading to drops in the price.

There was a lot of surplus in the USA and Brazil the past year so a lot of oversupply.

But Trump finally wised up. Soybeans went up 2.3% today along with everything else.