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Brazilian soybean meal export prices fell sharply on October 26, with FOB Paranaguá December shipment posting their steepest daily drop since mid-April. Prices reached their lowest level since August 24 after Lula's reelection on October 25.
The US dollar surged more than 10% against the Brazilian real amid fiscal policy uncertainty.
The sharp real depreciation makes Brazilian meal cheaper for export buyers and weighs on global soybean meal prices, while fiscal uncertainty keeps volatility elevated.
worldports.orgOct 29, 2026After 117 past bearish macro events, Soybean Meal moved a median -0.6% over 5 sessions (41% higher; middle half -2.5% to +1.7%), and +0.5% over 20.
After 301 past bullish macro events, Brazilian Real (BRL per USD) moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.7%), and +1.0% 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.
Confirms the USD surged over 10% against BRL on fiscal uncertainty after the Oct 25 election.
Notes the USD surging more than 10% against BRL on fiscal uncertainty after the Oct 25 election, confirming the size of the move.
