Should farmers worry about lower South America Currencies value? & Levels 6.07.2018

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Dear Traders,

Should U.S. Farmers Fret About Falling Ag Currencies?

CMEGroup.com 

• 31 May 2018
• By Erik Norland
• Topics: Agriculture

Argentina has slipped into a financial crisis, again. The Argentine peso has fallen 23% against the U.S. dollar this year. The central bank has raised interest rates to 40% to combat capital flight. The currencies of other major agricultural exporters are also suffering. The Brazilian real is down 15% since January 23 while the Russian rouble has declined 10% over the same period (Figure 1).

The Ukrainian hryvnia has, however, held its own but could suffer a devaluation at any moment. Outside of these major agricultural exporters, other countries such as Turkey are also experiencing sharp falls in the value of their currencies. Yet, so far, the prices of corn, soy and wheat have reacted with a yawn. Should American farmers be nervous?

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06-07-2018

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