# Todd's Take

> DTN analysts discuss the May 18 drop of about 31 cents in July soybeans, which followed a 6.5% fall in Brazil's real. The column links the currency move to corruption allegations involving President Temer and JBS SA, and reports that JBS reportedly bought large amounts of dollars shortly before the tapes news. Analysts questioned whether the drop was a true black swan or a manipulated move, and noted soybeans had since rebounded.

- Date: 2017-05-23 · published 2017-05-23T12:00:00.000Z
- Category: macro · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/71035-todd-s-take
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

Political shocks that move the Brazilian real can quickly shift Brazilian farmer selling and CBOT soybean prices, so traders face higher short-term volatility.

## Read by commodity

- SOY: neutral
- USDBRL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2022-08-02 | [Argentina’s Cash Needed to Avert Devaluation is Drying Up](https://feedsoft.ai/events/40324-argentina-s-cash-needed-to-avert-devaluation-is-drying-up.md) | +1.6% | -3.7% |
| SOY | 2019-08-26 | [China lets yuan sink, Trump says serious talks to start \| AP News](https://feedsoft.ai/events/57793-china-lets-yuan-sink-trump-says-serious-talks-to-start-ap-news.md) | +1.6% | +5.8% |
| SOY | 2018-02-08 | [China's Yuan Toppled From Two-Year High as Trade Data Surprises - Bloomberg](https://feedsoft.ai/events/7104-china-s-yuan-toppled-from-two-year-high-as-trade-data-surprises-bloomberg.md) | +3.5% | +7.2% |
| SOY | 2017-02-03 | [LIVESTOCK MARKETS: Commodity bubble to start inflating](https://feedsoft.ai/events/72614-livestock-markets-commodity-bubble-to-start-inflating.md) | +1.3% | -1.0% |
| SOY | 2026-10-27 | [First Thing Today \| Soybeans see small bounce as Brazilian real stabilizes - Pro Farmer](https://feedsoft.ai/events/436-first-thing-today-soybeans-see-small-bounce-as-brazilian-real-stabilizes-pro.md) | +0.5% | — |
| USDBRL | 2021-02-26 | [Brazil intervenes in FX markets to arrest real's fall — Octa](https://feedsoft.ai/events/48851-brazil-intervenes-in-fx-markets-to-arrest-real-s-fall-octa.md) | +1.4% | +2.6% |
| USDBRL | 2025-07-10 | [Brazil stocks slip, real rebounds after Trump's 50% tariff threat](https://feedsoft.ai/events/23997-brazil-stocks-slip-real-rebounds-after-trump-s-50-tariff-threat.md) | +2.0% | +0.4% |
| USDBRL | 2019-04-24 | [An Explanation for Soybeans' Day-to-Day Swings](https://feedsoft.ai/events/59633-an-explanation-for-soybeans-day-to-day-swings.md) | -0.1% | +3.2% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/news/article/2017/05/23/black-swan-bonanza?referrer=twitter

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