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Brazil's Economy Minister Paulo Guedes said the real is at a more favorable level and is likely to strengthen much further. The currency hit a one-year high of 4.9386 per dollar on Wednesday, June 23.
A stronger real makes Brazilian exports such as soybeans, corn and meal more expensive in dollar terms, which can weigh on Brazilian sales and support US competitiveness. Currency moves are a secondary driver for feed prices here.
reuters.comJamie McGeeverJun 23, 2021After 213 past bearish macro events, Brazilian Real (BRL per USD) moved a median -0.2% over 5 sessions (46% higher; middle half -1.5% to +0.9%), and +0.2% 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.
