In Argentina’s Soy Standoff, U.S. Rivals Emerge as Winners
- Argentine farmers are yet to sell 52% of crop ended in June
- ‘The global meal buyer will be coming to the U.S.’: ADM’s CFO
This article is for subscribers only.
Argentina’s tightening currency restrictions are wreaking havoc in everything from corporate debt to Netflix subscriptions. But there’s one unintended beneficiary: U.S. soybean crushers.
The central bank is trying to stem a fall in hard-currency reserves by restricting access to dollars. At the same time, authorities have allowed multiple exchange rates for the peso to proliferate, with the official, controlled rate far stronger than others.