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Argentine stocks hit an all-time high and bonds rallied after primary elections showed the conservative opposition leading, including by about five points in Buenos Aires province. The peso jumped 3.9% to 178 per dollar.
Analysts at Goldman Sachs said the result raises the odds of a regime change in 2023 but warned of a possible shift to more populist policies by the Fernandez government.
For feed buyers the impact is indirect: a stronger peso lowers the local-currency cost of Argentine soymeal and corn exports, which can ease pressure on world meal prices. The effect is modest because the move reflects political sentiment rather than a change in crop or trade flows.
financialpost.comReutersSep 13, 2021Not 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.
