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Argentina's government revised its inflation targets for the next three years at a year-end press conference, raising the 2018 forecast to 15 percent from the 10-12 percent in the newly approved Budget, with 10 percent for 2019 and 5 percent for 2020. The announcement pushed the peso sharply weaker on Thursday before it closed the year at 18.92 pesos per dollar.
A weaker peso and higher expected Argentine inflation affect the cost of Argentine grain and oilseed exports priced in dollars, which can shift farmer selling and export pace for soybeans, corn and meal. The effect on global feed prices is modest but worth tracking.
batimes.com.arUrsula Ures PoredaDec 30, 2017Not 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.
