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The IMF said it supports Argentina's floating exchange rate after the peso depreciated rapidly. Argentina had requested a stand-by arrangement, and the central bank sold reserves and raised interest rates to 40 percent to contain inflation.
A weaker peso makes Argentine soybean and meal exports cheaper in dollar terms, which can add farmer selling and pressure world soymeal prices.
reuters.comNicolás MisculinMay 14, 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.
