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The IMF published supplementary information to Argentina's Stand-By Arrangement request, noting the introduction of a multiple-price FX auction open to all domestic banks for no more than 12 months. The supplement states the information does not alter the staff appraisal.
The FX auction changes how Argentina's peso is priced, which can affect export margins for soymeal and corn sellers. The effect on grain prices is modest and mostly through exchange rate expectations.
elibrary.imf.orgJul 13, 2018Not enough comparable past events yet for a historical read.
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.
