Internationally Soybean Oil Market Still Tight Also Argentina Govt Will Raise Export Tariff To 33%

Chicago; soybeans Oil were trading below the $17-per-bushel level in late March, pulling back from a rally to peaks not seen since 2012 as some investors’ fears over a further disruption in supplies from the Black Sea eased amid continuing peace talks between Russia and Ukraine.

Still, the market remains very tight on the heels of Russia’s invasion of Ukraine and Argentina’s decision to halt export registrations of soybean oil, soy meal, and other related products. The world’s top exporter,

Argentina, said the government wants to raise tariffs to 33% from the current 31%. The move pauses sales and exports of the 2021/22 crop, which could tighten the oilseed supplies already squeezed by drought.