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Argentine President Javier Milei has stabilized the peso, which has stopped its daily plunge. In the blue-chip swap market the currency has risen about 25% against the dollar over three months, more than any of the 148 currencies Bloomberg tracks.
A stronger peso reduces Argentina's import costs and eases inflation pressure, while softening the pull on export farmers to sell soy and corn for dollars. Feed buyers may see slightly more Argentine soymeal and corn supply pressure as local prices weaken in dollar terms.
bloomberg.comIgnacio Olivera DollApr 25, 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.
