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Argentina's central bank has barred soybean exporters from trading on alternative foreign exchange markets, ending their access to the higher-rate export incentive program for foreign currency purchases from Tuesday. The move also blocks trading in foreign currency-denominated securities.
The peso weakened 2.11% to 285 per dollar on the parallel black market.
Restricting exporters' access to dollars may slow soy sales and add pressure on the peso, which raises the cost of Argentine soy and meal in dollar terms. The effect on soybean and meal prices is uncertain but could support prices if exporters hold back supply.
finance.yahoo.comReutersSep 20, 2022After 554 past neutral policy events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.4% to +1.6%), 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.
