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00:02Chinese buyers booked at least 10 cargos of Argentine soybeans after Buenos Aires
00:06scrapped grain export taxes traders set on Tuesday, moved out the blow to U.S. farmers
00:10already hurt by low prices, and stalled exports, according to Reuters.
00:14Argentina's temporary tax cut made its soybeans more competitive,
00:17leading China to book fourth-quarter cargoes typically supplied by the U.S.,
00:20but disrupted by the trade war. Unresolved trade talks have frozen U.S. soybean exports,
00:25costing farmers billions as South American suppliers like Brazil filled China's demand.
00:30Argentina's temporary suspension of its 26% export tax,
00:33boosting competitiveness and pressure in Chicago's soybean futures to a six-week low.
00:38Analysts said the impact may be short-lived,
00:40given Argentina's limited supply and the policy's October expiration.
00:43For all things money, visit Benzinga.com.
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