市场快讯：阿根廷冲击，油粕齐跌

Group 1 - Report industry: Agricultural products (soybeans, oil, and meal) [5] Group 2 - The core view of the report: Argentina's decision to cancel all grain export taxes before October 31 is expected to increase the near - term supply of soybeans and soybean oil and lower soybean premium quotes. In the short term, the market sentiment is negatively affected, and Argentine soybeans, soybean oil, and soybean meal are expected to impact the market at low prices from September to October. However, the market will eventually return to its trading pattern, and the oil market is more resistant to pressure than the protein market [5] Group 3 - Event: Argentina's government announced the cancellation of all grain export taxes before October 31. The previous export tax rates were 26% for soybeans and 24.5% for soybean meal and soybean oil [5] - Market reaction: After the news, U.S. soybeans, U.S. soybean oil, and Malaysian palm oil prices declined. In the domestic market, the decline of Dalian Commodity Exchange's soybean meal and three major oils exceeded 2% and 3%, respectively [5] - Supply impact: The policy is expected to increase the near - term supply of soybeans and soybean oil and lower soybean premium quotes [5] - Short - term impact: From September to October, due to the tax - exemption policy, Argentine soybeans, soybean oil, and soybean meal are expected to impact the market at low prices [5] - Follow - up focus: It is necessary to pay attention to Argentina's subsequent export capacity. From January to August 2025, Argentina has processed and exported about 33.22 million tons of soybeans, with an annual remaining usage of about 15 million tons [5] - Market resistance: The oil market is more resistant to pressure than the protein market [5]