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The real weakened from R$5.0377 to R$5.5840 per dollar between October 23 and November 10. Brazilian traders reportedly sold 500,000 to 800,000 tonnes of soybeans a week, while CBOT May 2027 soybeans fell 3.19%.
A weaker real encourages Brazilian farmers to sell soybeans for export, adding supply to global markets and pressuring soybean prices. Argentine producers face more competition from Brazil.
After 804 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.