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Javier Milei won Argentina's presidential election with nearly 56% of the vote and pledged drastic reforms, including a possible move from the peso to the US dollar. Financial markets welcomed the result, with Argentine ADRs and dollar bonds rallying.
A plan to dollarize and cut state spending would reshape Argentina's currency and export incentives over the long term, a key factor for South American soymeal and corn export pricing.
bbcmoney.comNick StauntonNov 27, 2023Not enough comparable past events yet for a historical read.
After 206 past neutral policy events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.3% to +1.8%), and -0.7% 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.
