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MarketScreener Homepage  >  Futures  >  Chicago Board Of Trade - Floor  >  WHEAT FUTURES (W) - CBR (FLOOR)/C1       

WHEAT FUTURES (W) - CBR (FLOOR)/C1

End-of-day quote. End-of-day quote Chicago Board Of Trade - Floor - 10/19
627 USc   +0.28%
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Brazil to eliminate tariffs on corn and soy until 2021, source says

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10/17/2020 | 10:37am EDT

RIO DE JANEIRO, Oct 17 (Reuters) - The Brazilian government has decided to temporarily eliminate tariffs on corn and soy imports from countries outside the Mercosur trade bloc until next year, a source with direct knowledge of the matter told Reuters.

The decision was taken late on Friday at a meeting of Gecex, a technical body within the economy ministry, said the source, confirming a Reuters report from Thursday.

Soybean meal and soy oil imports will also be exempt along with soy imports until January 15, 2021, while corn imports will not pay the tariffs until March 31,2021, the source said, requesting anonymity to speak freely.

Brazil's meat trade group ABPA representing the poultry and pork sector, which relies on both grains as animal feed, requested the exemption last month, arguing that current record high prices in Brazil were hurting their margins.

The tariff on corn and soy imports from outside Mercosur, which includes Paraguay, Uruguay and Argentina, is currently 8%.

The economy and agriculture ministries declined to comment.

Brazil's Economy Ministry decided in early September to cut tariffs on rice imports to zero through the end of the year, amid record high prices for that grain. (Reporting by Rodrigo Viga Laier; Editing by Tom Brown)


Stocks mentioned in the article
ChangeLast1st jan.
CORN FUTURES (C) - CBR (FLOOR)/C1 0.81% 405.25 End-of-day quote.3.68%
EURO / ARGENTINE PESO (EUR/ARS) 0.69% 91.7157 Delayed Quote.35.03%
EURO / BRAZILIAN REAL (EUR/BRL) -0.21% 6.5873 Delayed Quote.46.77%
FEEDER CATTLE?FUTURES (GF) - CMG (ELECTRONIC)/C1 0.04% 134.65 End-of-day quote.-7.38%
LIVE CATTLE (LE) - CMG (ELECTRONIC)/C1 -0.10% 103.9 End-of-day quote.-16.60%
LONDON BRENT OIL 1.75% 43.06 Delayed Quote.-34.86%
SOYBEAN OIL FUTURES (ZL) - CBE (ELECTRONIC)/C1 -1.46% 32.51 End-of-day quote.-5.68%
US DOLLAR / ARGENTINE PESO (USD/ARS) -0.06% 77.525 Delayed Quote.29.25%
WHEAT FUTURES (W) - CBR (FLOOR)/C1 0.28% 627 End-of-day quote.12.21%
WTI 2.05% 41.6 Delayed Quote.-33.36%
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