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Parallel dollar rates fell after Argentina began selling dollars in financial markets to absorb peso emissions. The blue dollar dropped about 6.3% from 1,500 to 1,415 pesos, and the blue-chip swap rate fell nearly 10%.
Analysts disagree on whether the scheme will stabilise FX long term, and critics warn it depletes central bank reserves.
Reserve depletion raises doubts about Argentina's ability to keep importing and exporting smoothly, which matters for soymeal and corn trade flows. The effect on global feed prices is small in the near term.
buenosairesherald.comFacundo IglesiaJul 16, 2024Not enough comparable past events yet for a historical read.
After 73 past neutral macro events, Soybean Meal moved a median -0.3% over 5 sessions (44% higher; middle half -1.9% to +2.1%), and -1.6% over 20.
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.
