Argentine FX Boost Spurs Active Soybean Trading
Argentina’s daily soy trading volume hit its highest level in five and a half years, the country’s Rosario Grain Exchange said, after the government announced a higher foreign exchange rate during September. As we reported in “First Thing Today,” the exchange rate for Argentine soybean farmers was increased to 200 pesos per U.S. dollar, up from the previous rate of 139 per dollar.
The exchange said in a report Argentine soy operations registered on Monday, the first day the new foreign exchange rule came into effect, was close to 800,000 MT, which it said was the highest daily trading volume since early 2017.
