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Colombia's peso hit a record low against the dollar, with the USD/COP rate breaking through 3,500 for the first time and peaking at 3,524. The move follows ongoing anti-government protests and uncertainty over the 2018 tax reform, which may be voided on December 31, and whether Congress will pass the government's Growth Law.
A weaker peso raises the local-currency cost of imported feed inputs for Colombian buyers and can squeeze import demand for corn, soymeal and other feed ingredients, while it has little direct effect on world grain prices.
colombiareports.comAdriaan AlsemaNov 28, 2019Not 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.
