Soybean prices are declining
Over the week of May 29–June 4, CBOT soybean futures fell by 65 USc/bu to 1,129.4 USc/bu.
Favorable early-season crop conditions in the US continue to weigh on prices, as the market increasingly factors in the potential for a strong harvest.
Meanwhile, the government of Argentina has officially approved the tax reductions previously announced by Javier Milei. The reduction in soybean export taxes will begin in early 2027, with the tax rate scheduled to decline to 21% by the end of that year and further to 15% by December 2028, compared to the current rate of 24%.
The government is also adjusting export taxes on soybean oil in an effort to protect and support the domestic crushing industry. These policy changes could strengthen Argentina’s competitiveness in global soybean markets over the medium term while preserving incentives for value-added processing.
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