Tidbits, SA Crops & Taxes, Wheat Crops, Crop Progress, ENSO, Export Inspections 5/27/26
- Wright team
- 2 days ago
- 4 min read
Tidbits
Soybeans: Gaurav Kochar is a trader of cash commodities based in India. He reported yesterday a major shift in the world soybean market as India cancelled 25,000 mts of soymeal export contracts and bought 80,000 mts of soybean to import from Africa. It was 5 years ago the last time India imported soybeans. While India is not a big player in the world soybean market, when any world market player goes from an exporter to an importer, it changes the market significantly.
Argentina & Brazil: Dr. Cordonnier raised his corn crop estimate for Argentina by 1 million to 63 million mts and kept his estimate for Brazil at 136 million mts this week.
He also left his soybean crop estimates for Argentina and Brazil unchanged at 49 million and 180 million mts, respectively.
Soybean harvest in Argentina is around 75% complete.
Argentina will steadily reduce its export taxes on its biggest agricultural exports throughout the next two years, Economy Minister Luis Caputo said on Friday.
Taxes on soybean exports are currently at 24% and will be cut on a monthly basis throughout 2027, reaching 21% at the end of next year and 15% by the end of 2028. Taxes on soybean oil and meal will be reduced "proportionally," he added. Each month of 2027 will see a 0.25 percentage point cut to the soybean export tax, speeding up to 0.5 percentage points in 2028.
Want to read more?
Subscribe to wrightonthemarket.com to keep reading this exclusive post.
