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Reuters explains that Argentina's economy buckled in 2018 as investors sold sovereign bonds and Argentines bought dollars. The peso fell from about 20 to 40 per dollar between January and September.
The currency collapse made Argentine exports cheaper in dollar terms, supporting soybean meal and oil export competitiveness, while the recession reduces domestic feed demand.
reuters.comGabriel BurinDec 20, 2018Not enough comparable past events yet for a historical read.
After 73 past neutral macro events, Soybean Meal moved a median -0.3% over 5 sessions (44% higher; middle half -1.9% to +2.1%), and -1.6% 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.
