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Argentina's economy minister launched a temporary subsidised exchange rate for wine, rice, peanuts and other agricultural exports for 90 days, with a 30-day rate for soy exports starting in April. The measure aims to boost exports and reserves during the worst drought in a century.
Preferential FX for soy exports could accelerate Argentine soymeal and soyoil sales abroad, adding supply that pressures global meal and oil prices.
batimes.com.arJames GraingerMar 31, 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 351 past bearish policy events, SBO moved a median -0.0% over 5 sessions (49% higher; middle half -1.7% to +1.8%), and -0.2% over 20.
After 100 past bearish policy events, RICE moved a median -0.1% over 5 sessions (49% higher; middle half -1.7% to +1.6%), and +0.1% 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.
