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Argentina's black market peso rebounded about 3% on July 5 after an 8% crash the previous day, as the new economy minister moved to calm markets. Sovereign bonds fell sharply amid fears of economic crisis and default, and the central bank intervened to support the peso.
Currency and debt stress in Argentina can drive grain farmers to hoard or sell crops to raise dollars, changing export flows. Peso volatility also shifts the competitiveness of Argentine soybean meal and corn in world markets.
reuters.comJorge OtaolaJul 5, 2022Not 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.
