# Why Argentina's shock measures may be the best hope for its ailing economy | AP News

> Argentina's new government is pursuing shock measures, including a sharp devaluation, to end the peso's distortion under strict limits on dollar purchases. The official exchange rate had made the peso look stronger than it was, at around 400 pesos per dollar.

- Date: 2023-12-14 · published 2023-12-14T12:00:00.000Z
- Category: policy · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/32999-why-argentina-s-shock-measures-may-be-the-best-hope-for-its-ailing-economy-ap
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Ending exchange controls is expected to free Argentine grain and oilseed sellers to move supply, which may pressure soybean meal and corn export prices. The outlook for Argentine farm output and export volumes depends on how the reforms work.

## Read by commodity

- SBM: bearish ▼
- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2023-12-12 | [Argentina’s Milei Devalues Peso by 54% in First Batch of Shock Measures - Bloomberg](https://feedsoft.ai/events/32997-argentina-s-milei-devalues-peso-by-54-in-first-batch-of-shock-measures-bloomberg.md) | -3.3% | -11.7% |
| SBM | 2025-10-03 | [Argentina Export Tax Shock Hits Grain Markets](https://feedsoft.ai/events/13828-argentina-export-tax-shock-hits-grain-markets.md) | -0.0% | +16.9% |
| SBM | 2023-07-25 | [Argentina announces measures to boost foreign reserves \| Buenos Aires Times](https://feedsoft.ai/events/35334-argentina-announces-measures-to-boost-foreign-reserves-buenos-aires-times.md) | +0.7% | -7.7% |
| SBM | 2023-12-21 | [Changes in Argentina should boost the country’s soymeal and soyoil exports](https://feedsoft.ai/events/32788-changes-in-argentina-should-boost-the-country-s-soymeal-and-soyoil-exports.md) | -1.4% | -7.3% |
| SBM | 2020-10-02 | [Argentina lowers export taxes on soy for three months, hoping farmers will sell their crops — MercoPress](https://feedsoft.ai/events/50483-argentina-lowers-export-taxes-on-soy-for-three-months-hoping-farmers-will-sell.md) | +4.1% | +9.2% |
| CORN | 2022-08-17 | [Analysis-As economy wilts, Argentina's Massa seeks to sow hope with farm chiefs \| Euronews](https://feedsoft.ai/events/14016-analysis-as-economy-wilts-argentina-s-massa-seeks-to-sow-hope-with-farm-chiefs.md) | +0.3% | +3.8% |
| CORN | 2023-12-12 | [Argentina’s Milei Devalues Peso by 54% in First Batch of Shock Measures - Bloomberg](https://feedsoft.ai/events/32997-argentina-s-milei-devalues-peso-by-54-in-first-batch-of-shock-measures-bloomberg.md) | +1.9% | +0.1% |
| CORN | 2025-10-03 | [Argentina Export Tax Shock Hits Grain Markets](https://feedsoft.ai/events/13828-argentina-export-tax-shock-hits-grain-markets.md) | +0.3% | +1.2% |

## Sources

- apnews.com: https://apnews.com/article/argentina-inflation-milei-currency-cuts-peso-devaluation-beddb4f7fd0021463653af37908bcb78

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.