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Futures Close 14/03/22

Argentina has halted registration of exports of 21/22 crop – (not yet harvested), this move effectively blocks further sales.  This pause is likely to all the Arg government to increase export tariffs.  Argentina’s soy oil and meal exports are currently taxed at 31%. The country’s 2021/22 soy crop is estimated at between 40 million-42 million tonnes.