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U.S. Pledge and Grain-Duty Holiday Cool Argentina’s Market Rout

The rush to secure $7 billion in farm export dollars drew allegations of favoritism toward big traders, leaving core vulnerabilities untouched.

Overview

  • Argentina scrapped grain export duties temporarily to accelerate foreign-exchange inflows, hitting a $7 billion liquidation target in roughly three days after rapid contract registrations.
  • La Nación reports President Donald Trump confirmed U.S. assistance, with about $20 billion expected to be available on October 24 to help defend reserves and meet payments.
  • Markets rebounded as sovereign bonds rose, the country risk compressed by more than 500 basis points, the dollar retreated to two‑month levels, and interest rates started to ease.
  • Opposition deputies Rodrigo de Loredo and Eduardo Valdés said the move enriched large exporters and enabled registrations without physical grain, urging enforcement of Law 26.351 and warning of a heavy fiscal cost.
  • Página/12 describes tight coordination and pressure around the operation, including reported calls from U.S. Treasury’s Scott Bessent and government pushes on exporters, as Argentine and U.S. farm groups criticized the maneuver.