# Soybeans Hit 2-Month Low as Lula’s Win Lifts China Trade Outlook

> Soybeans, sugar and arabica coffee fell after Lula da Silva won a fourth Brazilian presidential term, an outcome many investors did not expect. The Brazilian currency weakened on the result. Soybeans dropped as much as 2.3% intraday, and sugar fell more than 5%.

- Date: 2026-10-26 · published 2026-10-26T12:00:00.000Z
- Category: macro · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/17149-soybeans-hit-2-month-low-as-lula-s-win-lifts-china-trade-outlook
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

A weaker real makes Brazilian exports cheaper in dollar terms and supports Brazil's export competitiveness, which pressures world soybean and other crop prices.

## Read by commodity

- SOY: bearish ▼
- USDBRL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2024-12-03 | [China’s yuan hits lowest level in months as Trump tariff threats roil currencies \| South China Morning Post](https://feedsoft.ai/events/27171-china-s-yuan-hits-lowest-level-in-months-as-trump-tariff-threats-roil.md) | +0.5% | +1.3% |
| SOY | 2024-11-12 | [China’s yuan weakens to 3-1/2-month low as Trump tariff threat weighs - Markets - Business Recorder](https://feedsoft.ai/events/6701-china-s-yuan-weakens-to-3-1-2-month-low-as-trump-tariff-threat-weighs-markets.md) | -0.2% | -1.7% |
| SOY | 2022-04-21 | [China's yuan slides to 6-month low as tightening prospects help dollar \| Financial Post](https://feedsoft.ai/events/7337-china-s-yuan-slides-to-6-month-low-as-tightening-prospects-help-dollar.md) | -1.2% | -4.8% |
| SOY | 2019-09-27 | [Its leash lengthened, China's yuan flirts with trade war role](https://feedsoft.ai/events/57289-its-leash-lengthened-china-s-yuan-flirts-with-trade-war-role.md) | +2.6% | +5.0% |
| SOY | 2018-05-04 | [China not purchasing soybeans from the U.S. is not new](https://feedsoft.ai/events/65060-china-not-purchasing-soybeans-from-the-u-s-is-not-new.md) | -2.9% | -2.1% |
| USDBRL | 2020-01-23 | [With a Big Crop Expected, Brazil's Soybean Harvest Is Slow](https://feedsoft.ai/events/54912-with-a-big-crop-expected-brazil-s-soybean-harvest-is-slow.md) | +0.7% | +4.8% |
| USDBRL | 2022-06-07 | [Brazilian real hits 2-week low, Chilean peso slips before rate move \| Financial Post](https://feedsoft.ai/events/41152-brazilian-real-hits-2-week-low-chilean-peso-slips-before-rate-move-financial.md) | +6.3% | +13.7% |
| USDBRL | 2023-01-24 | [Lula’s Jab at Central Bank Puts Traders on Edge Across Brazil - Bloomberg](https://feedsoft.ai/events/37980-lula-s-jab-at-central-bank-puts-traders-on-edge-across-brazil-bloomberg.md) | -1.7% | -0.4% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2026-10-26/soybeans-hit-2-month-low-as-lula-s-win-lifts-china-trade-outlook

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.