# Some elections matter more than you know: No crop changed in the fields, yet sugar, coffee and soya got cheaper in a day

> Raw sugar futures in New York fell 5.6% on Monday, October 26, arabica coffee for March delivery fell 2.8%, and soybeans also declined. The moves came after Brazil's election result, with no change in crop conditions in Brazil's fields.

- Date: 2026-11-01 · published 2026-11-01T18:25:04.454Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/33218-some-elections-matter-more-than-you-know-no-crop-changed-in-the-fields-yet
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

The selloff was driven by currency and political repricing following Lula's election win rather than supply, so the price pressure reflects financial flows and Brazilian real movements that can reverse, affecting soybean and meal values tied to Brazilian export expectations.

## Read by commodity

- SOY: bearish ▼
- USDBRL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2016-12-14 | [Fed surprises with three rate hikes next year — and could need more](https://feedsoft.ai/events/6464-fed-surprises-with-three-rate-hikes-next-year-and-could-need-more.md) | -2.2% | +0.4% |
| SOY | 2026-10-26 | [Elections in Brazil: Lula returns to power, markets react with panic. Brazilian ETF loses nearly 15% in Tokyo. What about USDBRL, soybeans, sugar, BRAComp, and ETFs?](https://feedsoft.ai/events/17288-elections-in-brazil-lula-returns-to-power-markets-react-with-panic-brazilian.md) | -1.5% | — |
| SOY | 2024-10-29 | [How the US election could impact China's markets \| Reuters](https://feedsoft.ai/events/28073-how-the-us-election-could-impact-china-s-markets-reuters.md) | +1.4% | +1.2% |
| SOY | 2020-03-10 | [Fear in the Market Drives Dow and Crude Oil Lower, Drags Ag Markets Along \| Hoosier Ag Today](https://feedsoft.ai/events/11271-fear-in-the-market-drives-dow-and-crude-oil-lower-drags-ag-markets-along.md) | -4.8% | -0.9% |
| SOY | 2020-05-14 | [The Federal Reserve and U.S. Treasury Did Not Intervene in FX Markets During the First Quarter - FEDERAL RESERVE BANK of NEW YORK](https://feedsoft.ai/events/53331-the-federal-reserve-and-u-s-treasury-did-not-intervene-in-fx-markets-during-the.md) | +1.3% | +3.6% |
| USDBRL | 2018-01-26 | [Emerging Markets:  What Changed - Marc to Market  Marc Chandler on Global FX and Capital Markets](https://feedsoft.ai/events/67178-emerging-markets-what-changed-marc-to-market-marc-chandler-on-global-fx-and.md) | +0.8% | +2.8% |
| USDBRL | 2020-03-19 | [The Fed is extending its currency exchange program to more central banks around the world](https://feedsoft.ai/events/54307-the-fed-is-extending-its-currency-exchange-program-to-more-central-banks-around.md) | -1.1% | +2.8% |
| USDBRL | 2026-10-08 | [Election jolt fades as Brazil's fiscal math fails to hold investors' conviction. \| 24EcoNews](https://feedsoft.ai/events/8077-election-jolt-fades-as-brazil-s-fiscal-math-fails-to-hold-investors-conviction.md) | +1.0% | — |

## Sources

- economictimes.indiatimes.com: https://economictimes.indiatimes.com/prime/some-elections-matter-more-than-you-know-no-crop-changed-in-the-fields-yet-sugar-coffee-and-soya-got-cheaper-in-a-day/primearticleshow/135426542.cms?medium=prime_exclusives_header

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