Cepea, 07/07/2025 – Domestic and external soybean prices are rising in this early July period. According to Cepea researchers, the boost comes from higher export tax rates (retenciones) in Argentina, given that this scenario tends to redirect part of international demand to the United States and Brazil. According to the Rosário Grain Exchange, on June 27 the Argentine government made official higher taxes, or “retenciones”, for some agricultural products, such as soybeans and their byproducts. As a result, starting July 1, the rate for soybeans is now 33%, up from 26% since January, and 31% for meal and soybean oil, above the 24,5% charged through June 30. In the domestic market, the weaker dollar ended up limiting price gains – a weaker U.S. currency tends to discourage Brazilian exports. In June, the dollar averaged R$ 5,53, the lowest since June/24. Source: Cepea (www.cepea.esalq.usp.br)