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Traders pushed the peso lower in futures markets last week after Economy Minister Luis Caputo said he did not yet know the size of a new IMF program. Caputo maintained there would be no peso devaluation, though the comments left room for FX changes soon.
Futures betting on a weaker peso signals that markets expect currency adjustment, which affects the peso cost of Argentine oilseed sales and farmer selling decisions. Any devaluation would tend to speed up exports and weigh on soymeal and soyoil prices.
bloomberg.comIgnacio Olivera DollMar 26, 2025Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
