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Argentina is reviving a temporary 'soy dollar' exchange rate of 230 pesos per dollar for soy exporters, valid from Monday until December 30, versus the official rate of 166. The measure follows a similar September scheme that boosted soy exports to about US$8 billion but breached Argentina's IMF program conditions.
A more lucrative exchange rate for exporters should accelerate soybean and meal shipments from Argentina, adding supply to the export market and pressuring soy product prices, while the policy also signals currency-practice risk.
batimes.com.arJames GraingerNov 26, 2022After 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 369 past bearish policy events, SOY moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% 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.
