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The IMF and Argentina reached a staff-level agreement on loan reviews that could unlock about $7.5 billion. Argentina has introduced more peso exchange rates to stop reserve losses, which the program will need waivers to accommodate.
Access to IMF funds could stabilize the peso and reduce pressure for export-linked currency moves, which may modestly ease Argentine soymeal and corn export pricing.
reuters.comDavid Lawder, Jorgelina RosarioJul 28, 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.
