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Argentina announced measures to bolster reserves, including an official 340 peso per dollar rate for agricultural exports until August 31 and new import taxes. The informal peso rate weakened to 550 per dollar as the IMF talks continued.
A preferential export exchange rate encourages farmers to sell grain and oilseeds quickly, adding near-term export supply that pressures global soymeal and corn prices lower.
batimes.com.arJiayi ZhangJul 25, 2023After 222 past bearish policy events, SBM moved a median -0.3% over 5 sessions (45% higher; middle half -2.1% to +1.2%), and -0.6% over 20.
After 310 past bearish policy events, CORN moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.6% 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.
