◂ Event Timeline

Mar 31, 2023MACROArgentina

IMF unlocks $5.4 bln in funds to Argentina, boosting reserves

Reuters reports the IMF unlocked about $5.4 billion for Argentina after approving a request to ease reserve targets. The excerpt is fragmentary and the reserve effect is described only briefly.

WHY IT MATTERS

Fresh IMF funds ease near-term pressure on Argentina's peso and grain export policy, reducing the risk of forced crop-sale disruption and supporting steady soymeal supply.

AFFECTSSoybean Meal▼

SOURCE
reuters.comJorge OtaolaMar 31, 2023

Price reaction & history

Soybean Meal▼bearishSO FAR1d +1.0%5d -0.7%20d -3.8%

After 117 past bearish macro events, Soybean Meal moved a median -0.6% over 5 sessions (41% higher; middle half -2.5% to +1.7%), and +0.5% over 20.

Oct 10, 2023Argentina's beleaguered peso sinks to new low as election looms | Reuters+4.8%
Aug 30, 2018Argentina crisis: Peso crashes to record low amid IMF plea+2.9%
Jun 28, 2022Argentina's economic crisis whack-a-mole goes into overdrive | Reuters+2.3%
Aug 30, 2018Argentina Hikes Interest Rate To 60 Percent In Bid To Halt Currency's Fall : NPR+2.9%
May 14, 2018IMF says supports Argentina floating exchange rate as peso tumbles-1.7%

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.

Soybean Meal SBM · GP ▸

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