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The Argentine peso slipped after the government reached a revised $57.1 billion loan package with the IMF, aimed at easing investor concerns about debt repayment. The peso has been hit by sharp depreciation amid double-digit inflation and recession.
Peso weakness makes Argentine soybean and corn exports cheaper in dollar terms, which can pressure world soymeal and corn prices as farmers sell.
apnews.comSep 27, 2018Not enough comparable past events yet for a historical read.
After 117 past bearish macro events, SBM moved a median -0.6% over 5 sessions (41% higher; middle half -2.5% to +1.7%), and +0.5% over 20.
After 301 past bearish macro events, CORN moved a median -0.1% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +0.2% 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.
