Regional News Argentina and the IMF On Friday, the government of Argentina and the International Monetary Fund (IMF) announced an initial agreement regarding Argentina’s $44.5 billion debt. The agreement, which still needs to be approved by Argentina’s Congress, pledged to start reducing the fiscal deficit and cut the Argentine central bank’s financing of the treasury (i.e., “printing money”). The main points of the agreement are:
Goals of reducing the fiscal deficit to 2.5 percent in 2022, 1.9 percent inf 2023, and 0.9 percent in 2024.
Central Bank assistance to treasury to be reduced to 1 percent of GDP in 2022, 0.6 percent in 2023, and near-zero in 2024.
There were no...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
