Recently, Argentina President Javier Milei announced permanent export tax cuts for a wide variety of agricultural commodities. The biggest impact globally will be seen in the soybean marketplace, as Argentina is the world’s largest exporter of soybean meal. Allendale commodity broker Greg McBride said this will allow them to make an aggressive marketing push.
Unsurprisingly, the most significant tax cuts are for soybeans and soybean byproducts.
McBride said this could increase competition between the U.S. and Argentina.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
