Argentina peso devalued over 50% as markets welcome Milei's 'tough pill'

After 117 past bearish macro events, Soybean Meal moved a median -0.6% over 5 sessions (41% higher; middle half -2.5% to +1.7%), and +0.5% over 20.

• Jan 18, 2024Why the Argentine peso is slipping through Milei’s fingers | Buenos Aires Times+1.1%
• Aug 31, 2018Argentina peso sell off stops as investors await government plan+4.2%
• Aug 31, 2019Argentina curbs banks' access to pesos amid growing market turmoil-0.3%
• Oct 10, 2023Argentina's beleaguered peso sinks to new low as election looms | Reuters+4.8%
• Oct 22, 2021Argentina's informal peso down 2.05%, country risk widens to all time high | Financial Post+1.5%

After 40 past bearish macro events, Soybean Oil moved a median -0.8% over 5 sessions (45% higher; middle half -4.5% to +1.7%), and -1.5% over 20.

• Sep 28, 2022Palm hits lowest in over 1-1/2 years as recession fears dent demand - Markets - Business Recorder+2.6%
• Mar 11, 2020Ag Markets Feel Pinch As Oil Prices Plunge - ProAg-8.0%
• Mar 9, 2020Corn, soybeans, wheat drop about 2% as global markets recoil | Financial Post-8.3%
• Apr 26, 2020Oil price crash, COVID-19 weaken grains and oilseed markets+4.4%
• Feb 28, 2020Asian palm oil market drops 5.7% on coronavirus fears | S&P Global+0.9%