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The Argentine peso rallied for a second straight day after the central bank issued short-term bonds at high interest rates to absorb liquidity in the thin foreign exchange market. The peso closed 3.67% stronger at 38.15 per dollar, up 8.26% since the start of the week.
The central bank sold $1.398 billion in seven-day Leliq notes at an annual rate of 69.465%.
Argentina's currency turmoil and high domestic rates shape local feed demand and import costs, but the story has little direct effect on global grain or meal prices.
reuters.comCassandra GarrisonOct 2, 2018Not 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.
