# Argentina farmers digest primary election shock, wait to export despite weaker peso

> Argentina's grains export sector became more competitive on Monday after the peso weakened more than 15% against the U.S. dollar following the primary election result. Farmers said they would wait for the currency to settle before selling.

- Date: 2019-08-12 · published 2019-08-12T12:00:00.000Z
- Category: macro · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/57427-argentina-farmers-digest-primary-election-shock-wait-to-export-despite-weaker
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Farmer holding of grain ahead of exports keeps near-term Argentine supply tight, supporting world soybean and corn prices until selling resumes.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2021-04-11 | [Argentine farmers, facing peso uncertainty, hoard soya despite high prices - Markets - Business Recorder](https://feedsoft.ai/events/47430-argentine-farmers-facing-peso-uncertainty-hoard-soya-despite-high-prices.md) | +2.2% | +15.5% |
| SOY | 2018-05-16 | [‘Start selling so dollars come in,’ Argentine soybean farmers are told](https://feedsoft.ai/events/64865-start-selling-so-dollars-come-in-argentine-soybean-farmers-are-told.md) | +1.2% | -8.1% |
| SOY | 2023-04-26 | [Muddle-through is not enough for Argentina as peso faces fresh pressure \| Financial Post](https://feedsoft.ai/events/36676-muddle-through-is-not-enough-for-argentina-as-peso-faces-fresh-pressure.md) | -0.4% | -8.5% |
| SOY | 2021-05-07 | [Fed's super-easy policy likely to stick after weak jobs report](https://feedsoft.ai/events/47007-fed-s-super-easy-policy-likely-to-stick-after-weak-jobs-report.md) | +0.4% | -1.4% |
| SOY | 2023-04-13 | [China's exports rise unexpectedly, but economists warn of weakness ahead](https://feedsoft.ai/events/14852-china-s-exports-rise-unexpectedly-but-economists-warn-of-weakness-ahead.md) | +0.1% | -4.5% |
| CORN | 2019-11-01 | [Argentina imposes more money exchange restrictions to defend reserves — MercoPress](https://feedsoft.ai/events/56336-argentina-imposes-more-money-exchange-restrictions-to-defend-reserves-mercopress.md) | +0.4% | +0.3% |
| CORN | 2018-06-04 | [FoodFarmNews: China’s pig farmers plan to produce mega hog-farms to meet demands of world’s biggest pork market](https://feedsoft.ai/events/64512-foodfarmnews-china-s-pig-farmers-plan-to-produce-mega-hog-farms-to-meet-demands.md) | -2.0% | -7.4% |
| CORN | 2023-04-26 | [Muddle-through is not enough for Argentina as peso faces fresh pressure \| Financial Post](https://feedsoft.ai/events/36676-muddle-through-is-not-enough-for-argentina-as-peso-faces-fresh-pressure.md) | -2.1% | -5.4% |

## Sources

- reuters.com: https://www.reuters.com/article/us-argentina-grains-peso/argentina-farmers-digest-primary-election-shock-wait-to-export-despite-weaker-peso-idUSKCN1V2207/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.