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The Argentine peso fell to a new low on Monday, closing down 6.23 percent at 25.52 per dollar. The drop came ahead of Lebac bond holders being allowed to demand settlement, a potential US$25 billion payout.
Currency collapse raises the risk of forced peso selling and farmer hoarding or accelerated dollar-based export sales, which can move Argentine soymeal and corn offers.
batimes.com.arJayson McNamaraMay 15, 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.
