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Argentina's peso rallied 3.2% on Monday, its best gain of the year, after former president Cristina Fernandez de Kirchner lost a vote. The MERVAL stock index rose 3.6% after the open.
Investors read the result as easing the threat to President Macri's reform agenda.
A stronger peso and better sentiment reduce the chance of a sharp Argentine devaluation, which would otherwise make Argentine soymeal and corn cheaper on world markets. The move is a currency event with little direct effect on feed prices.
money.cnn.comPatrick GillespieAug 14, 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.
