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The IMF's technical mission arrived in Buenos Aires to conduct the first review of Argentina's new economic program under President Javier Milei. Argentina missed its foreign reserve accumulation target by $4.3bn, and bond deals raised only $500mn in June.
Fiscal and monetary targets were met, and the IMF may grant a waiver that could unlock a $2bn disbursement.
The story concerns Argentine sovereign finance and the peso rather than feed supply or demand, so it has little direct effect on feed grain or meal prices. A reserve shortfall could mean more currency intervention, which affects Argentina's export competitiveness for soymeal and corn only at the margin.
bondblox.comMay 25, 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.
