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Argentina's peso crashed to record lows after the government unexpectedly requested early release of a $50 billion IMF loan, falling to 39 per dollar. The central bank raised rates and increased bank reserve requirements, and the peso is down over 45 percent this year.
A deepening currency crisis makes Argentine oilseed and grain exports cheaper, which can pressure world soymeal and corn prices as farmers accelerate sales.
cnbc.comSam MeredithAug 30, 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.
