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Argentina's central bank raised its benchmark lending rate 15 points to 60 percent after the peso plunged 15 percent at the open on Thursday. Macri had earlier asked the IMF to speed disbursement of a $50 billion loan, a move that failed to calm markets.
Currency weakness in Argentina makes its soybean and corn exports more competitive, which can weigh on world meal and grain prices.
npr.orgColin DwyerAug 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.
