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A Reuters poll found Brazil's real likely to stay buoyant in the coming weeks after appreciating 15.6% from near-record lows in March. Respondents expected the currency to weaken over one year, with the median forecast at 5.22 per dollar.
Analysts see medium-term weakness in the real due to slow fiscal reforms, which would make Brazilian soybean and corn exports cheaper in dollar terms. This is a limited driver for feed prices.
reuters.comGabriel BurinJun 4, 2021After 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.
