09/23/25 Argentina’s Ag Tax Cut Has Immediate Impact – For Chinese Buyers

09/23/2025 Click Above to Watch the Morning Market Talk Video Argentina’s Ag Tax Cut Has Immediate Impact – For Chinese Buyers On the Grains Soybeans extended Monday’s sharp declines during the overnight session, taking out yesterday’s lows. Corn and winter wheat markets followed to the downside. Spring wheat futures pivoted around unchanged overnight. China Seizes Its Opportunity. Chinese buyers booked 10 to 15 cargoes of soybeans from Argentina on Monday, according to Reuters. Soybean premiums dropped aggressively after Argentine President Javier Milei eliminated export taxes on soybeans and most other ag goods through Oct. 31. Brazilian exporters also cut premiums, trying to match the move in Argentine prices. Two traders with direct knowledge of the Chinese deals for Argentine soybeans said they are scheduled for November delivery. With the elimination of ag export taxes being temporary, Chinese buyers needed to seize their opportunity – and apparently, they’ve done so. Argentina has plenty of soybeans to export with no tax over the next six weeks. And Brazil still has ample supplies from its record crop to ship. This creates an even more advantageous situation for Chinese buyers. There is expected to be a rush of Argentine shipments of soybeans through October, Brazil…