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The Argentine peso depreciated about 16 percent in May, prompting central bank reserve sales and a rate hike to 40 percent. Negotiations with the IMF on a stand-by arrangement followed, and the peso began to stabilize on May 15.
Stabilization reduces the urgency of farmer dollar selling, which can ease pressure on Argentine soymeal export offers over time.
frontierview.comMay 21, 2018Not enough comparable past events yet for a historical read.
After 44 past bullish macro events, Soybean Meal moved a median -0.6% over 5 sessions (34% higher; middle half -1.9% to +0.9%), and -2.9% 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.
