# Brazilian Real Appeal Depends On What Lula Delivers After The Election

> The US dollar rose to 5.3852 against the Brazilian real, up 0.71%, after touching 5.4279 intraday, above the upper end of Citi's near-term range. Citi expects the pair to stay between 5.30 and 5.40 until fiscal clarity emerges, while staying long BRL medium term.

- Date: 2026-10-30 · published 2026-10-31T10:06:01.639Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/3023-brazilian-real-appeal-depends-on-what-lula-delivers-after-the-election
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

A weaker real makes Brazilian soybean meal and corn exports cheaper in dollar terms, so this currency move is a mild bearish factor for soy and corn export prices.

## Read by commodity

- SBM: neutral
- USDBRL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2026-10-26 | [Euro falls against dollar; Brazilian real tumbles after Lula election win](https://feedsoft.ai/events/17282-euro-falls-against-dollar-brazilian-real-tumbles-after-lula-election-win.md) | +7.6% | — |
| USDBRL | 2026-10-01 | [Brazilian Real Under Pressure Ahead of Election](https://feedsoft.ai/events/4935-brazilian-real-under-pressure-ahead-of-election.md) | -3.5% | +4.1% |
| USDBRL | 2022-10-31 | [Brazil's real down after Lula wins presidential election; Bolsonaro yet to concede](https://feedsoft.ai/events/39344-brazil-s-real-down-after-lula-wins-presidential-election-bolsonaro-yet-to.md) | -5.8% | -1.1% |
| USDBRL | 2024-11-29 | [What is happening to BRL as the Brazilian Real collapses against the US Dollar](https://feedsoft.ai/events/27617-what-is-happening-to-brl-as-the-brazilian-real-collapses-against-the-us-dollar.md) | +1.7% | +5.6% |
| USDBRL | 2026-10-26 | [Brazil’s real sinks after Lula’s re-election victory \| Financial Markets News \| Al Jazeera](https://feedsoft.ai/events/17283-brazil-s-real-sinks-after-lula-s-re-election-victory-financial-markets-news-al.md) | +7.6% | — |
| SBM | 2025-12-03 | [Brazilian Real Strengthens for 2nd Session](https://feedsoft.ai/events/8058-brazilian-real-strengthens-for-2nd-session.md) | -3.2% | -4.0% |
| SBM | 2019-01-29 | [Brazilian real likely to strengthen further \| Lombard Odier](https://feedsoft.ai/events/61297-brazilian-real-likely-to-strengthen-further-lombard-odier.md) | -0.5% | -2.9% |
| SBM | 2019-08-27 | [Brazil central bank to continue FX intervention on Wednesday as real nears record low - The Business Times](https://feedsoft.ai/events/57788-brazil-central-bank-to-continue-fx-intervention-on-wednesday-as-real-nears.md) | -1.7% | +0.8% |

## Sources

- exchangerates.org.uk: https://www.exchangerates.org.uk/news/47623/2026-10-30-brazilian-real-appeal-depends-on-what-lula-delivers-after-the-election.html

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