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The Argentine peso fell 2.8% against the dollar on Wednesday, briefly passing 41 pesos per dollar before closing at 40.71, its weakest level in four months. The peso has depreciated about 9% since December 31, and the move came after two months of relative calm.
The IMF-backed intervention ceiling is 49 pesos per dollar.
A weaker peso lowers the dollar cost of Argentine soybean meal, corn and other exports, which can add pressure to CBOT meal and corn prices. Feed buyers should watch for farmer selling and export pricing shifts if the depreciation continues.
batimes.com.arAnna LaffreyFeb 20, 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.
