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Argentina's peso banknotes are losing purchasing power as inflation nears 60%, with the largest 1,000-peso note worth under $5 in alternative exchange markets. Carrying large amounts of cash has become a security and logistical problem for savers, businesses and banks.
Currency weakness and capital controls push Argentine buyers toward dollar-linked and alternative channels, which can weigh on local demand for imported feed inputs and raise the cost of procurement. The effect on global soymeal and corn prices is indirect.
reuters.comEliana RaszewskiMay 24, 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.
