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Argentina added corn and malting barley to its Export Increase Program, setting a differential exchange rate of 340 pesos per dollar until August 31. The government expects to raise about $2 billion in reserves through the program, with export duties payable until November 30.
The preferential rate incentivizes faster corn and barley export sales from Argentina, adding supply to world markets and pressuring corn and barley prices lower during the program window.
spglobal.comJul 25, 2023After 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.
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.
