Overview

• The government temporarily suspended grain export duties until October 30 or a US$7 billion cap, prompting large exporters to liquidate roughly that amount in about 72 hours.
• Economy Minister Luis Caputo said the Treasury bought about US$1.345 billion on Friday and aims to purchase roughly US$2 billion more on Monday and Tuesday, with reserves reported back above US$41 billion.
• To preserve the inflows, authorities reinstated restrictions, including a 90‑day wait between buying official dollars and operating in MEP/CCL, a step that widened gaps with financial exchange rates and lifted risk premia.
• U.S. Treasury Secretary Scott Bessent announced a support package of about US$20 billion that includes a currency swap, with terms to be worked out after elections and conditioned on political assurances, according to Caputo.
• Rural leaders and opposition figures called the duty holiday a financial “negociado” that favored exporters—some estimating gains near US$1.5 billion—while exporters’ chief Juan Pazo defended the move, noting soybean prices rose to about US$350 from US$298.