China Buys Argentine Soy After Tax Cut, Deepening U.S. Farmer Struggles

Benzinga

China booked Argentine soybeans after Buenos Aires scrapped export taxes, undercutting U.S. farmers amid stalled trade talks. The move pressured U.S. futures, though analysts say the impact may be limited by Argentina’s supply.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Cryptocurrency slid Friday morning with Bitcoin trading below $109,000 for the first time since

00:06early September, according to Benzinga. CoinGlass reported $970.63 million in trader liquidations

00:12over a 24-hour period. Spot Bitcoin ETFs saw $258.5 million in net outflows on Wednesday,

00:18while Spot Ethereum ETFs recorded $251.2 million in outflows, according to SoSoValue.

00:24Traders highlighted Bitcoin's proximity to its 200-day moving average,

00:27a zone that has marked cycle bottoms, support near $101,000 and resistance at $112,000.

00:33Ethereum is bouncing from $3,800, but must reclaim $4,016 to avoid a move towards $3,600.

00:39Traders also noted setups at XRP, Solana, and Dogecoin,

00:43with some eyeing Solana for a QFoy rally to $500.

00:46For all things money, visit Benzinga.com.

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