Russia confirms floating export tax
Argentine Ag Export Concerns
FBN’s Take On What It Means: Argentina’s attempts to address price increases with export taxes and/or quotas in the past have hurt production and exports. The government has committed to avoid distortion in the export market, but concern it could raise export taxes remains following the president’s recent comments. A disruption to the country’s bean or meal exports could push more business to the US and further tighten stocks here.
Russia Confirms Floating Export Tax
FBN’s Take On What It Means: The tax is not a surprise but we anticipate it may not be the last string that Russia pulls to limit upside in its domestic grain prices.
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