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Argentina's Paris Club debt deal has reduced the risk of an IMF default, according to the report. The country has been in a foreign currency debt crisis since 2019 and defaulted on private debt last year before a restructuring of more than $100 billion.
Easing default risk supports Argentina's ability to keep exporting soybeans, meal and corn and to access import financing, which could modestly cushion global soymeal supply concerns. The effect on feed prices is marginal.
reuters.comAdam JourdanJun 25, 2021After 206 past neutral policy events, SBM moved a median -0.4% over 5 sessions (44% higher; middle half -2.3% to +1.8%), and -0.7% over 20.
After 554 past neutral policy events, SOY moved a median +0.0% over 5 sessions (51% higher; middle half -1.4% to +1.6%), and +0.6% over 20.
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.
