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Argentina's central bank raised its benchmark interest rate to 60 percent, the world's highest, to halt a slide in the peso. The peso fell more than 13 percent against the dollar on Thursday to an all-time low.
The currency collapse makes Argentine grain and meal exports cheaper in dollar terms, which can pressure world soymeal and corn prices as exporters rush sales.
apnews.comLuis Andres HenaoAug 30, 2018Not enough comparable past events yet for a historical read.
After 117 past bearish macro events, Soybean Meal moved a median -0.6% over 5 sessions (41% higher; middle half -2.5% to +1.7%), and +0.5% 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.
