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The IMF increased its three-year Argentina program by $7 billion to $57 billion, with $19 billion of added financing front-loaded through end-2019. Argentina's central bank agreed to let the peso float and intervene only in extreme circumstances.
A freely floating peso backed by IMF funds may lift Argentine export competitiveness in soybeans and corn, adding pressure on global soymeal and corn prices, though drought limits supply.
cnbc.comReutersSep 27, 2018Not enough comparable past events yet for a historical read.
After 222 past bearish policy events, SBM moved a median -0.3% over 5 sessions (45% higher; middle half -2.1% to +1.2%), and -0.6% over 20.
After 310 past bearish policy events, CORN moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.6% 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.
