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Argentina's black market peso fell about 8% against the dollar after a senior official flagged the return of a tourism tax on dollar spending, which could reach 30%. The move comes alongside higher export taxes on farm products under new President Alberto Fernandez.
Higher export taxes can slow farmer sales of soy products, tightening Argentine meal and oil export flows. A weaker peso also raises the local cost of Argentine exports, which can shift global meal pricing.
lookoutpro.comDec 18, 2019After 172 past bullish policy events, Soybean Meal moved a median +0.0% over 5 sessions (50% higher; middle half -1.5% to +1.7%), and -0.8% 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.
