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The Colombian peso extended its slide, with USDCOP up 0.66% on Wednesday and about 6.3% from October highs. The Senate approved a constitutional reform raising government transfers to regional authorities, which analysts warn may be fiscally unsustainable.
Markets await the BanRep decision, with a 50bp cut favored over 75bp.
A weaker peso and fiscal worries raise Colombian import costs and inflation risk, which can affect local feed demand and pricing for imported feed ingredients. The impact on grain and meal prices is indirect.
mnimarkets.comJack LewisOct 31, 2024Not 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.
