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Argentina's strict capital controls keep official dollar access limited and have created parallel exchange rates where dollars trade at a large premium, above 900 pesos per dollar versus about 350 at the official rate. Black market traders are bracing for uncertainty ahead of the government transition.
Currency distortions weigh on Argentina's grain and oilseed sellers, who hold back sales when the exchange rate is uncertain, tightening export availability for soymeal and soyoil.
reuters.comAlexander VillegasNov 20, 2023After 44 past bullish macro events, SBM moved a median -0.6% over 5 sessions (34% higher; middle half -1.9% to +0.9%), and -2.9% over 20.
Not 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.
