# Brazil's Temer: 'I won't resign' amid corruption allegations | AP News

> Brazil's main Ibovespa stock index fell 10 percent within 90 minutes of the open, triggering a 30-minute trading halt. The real lost 8 percent against the US dollar as President Temer refused to resign amid corruption allegations. Congress cancelled its sessions, suspending work on legislation the administration wanted.

- Date: 2017-05-19 · published 2017-05-19T12:00:00.000Z
- Category: geopolitics · region Brazil · magnitude high
- Page: https://feedsoft.ai/events/71194-brazil-s-temer-i-won-t-resign-amid-corruption-allegations-ap-news
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Political turmoil in Brazil weakens the real, which makes Brazilian soybean and corn exports cheaper in dollar terms and can pressure US soy and corn prices. Stalled reform legislation adds uncertainty to Brazil's fiscal and economic outlook.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- USDBRL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2026-06-10 | [Brazilian Real Holds Near Two-Month Low](https://feedsoft.ai/events/12076-brazilian-real-holds-near-two-month-low.md) | -1.9% | -1.1% |
| USDBRL | 2024-01-08 | [ECOPETROL SA \| Emerging Markets: Latam FX down as geopolitical jitters trigger risk-aversion](https://feedsoft.ai/events/32417-ecopetrol-sa-emerging-markets-latam-fx-down-as-geopolitical-jitters-trigger.md) | -0.4% | +2.6% |
| SOY | 2025-12-02 | [U.S. grains: Corn, wheat futures climb on Black Sea tensions - Grainews](https://feedsoft.ai/events/21560-u-s-grains-corn-wheat-futures-climb-on-black-sea-tensions-grainews.md) | -3.0% | -7.2% |
| SOY | 2023-05-03 | [GRAINS-Wheat rallies as tensions rise between Russia, Ukraine \| Kitco News](https://feedsoft.ai/events/7381-grains-wheat-rallies-as-tensions-rise-between-russia-ukraine-kitco-news.md) | +0.9% | -9.7% |
| SOY | 2017-01-20 | [Boeing and beans on China's blacklist if US trade tensions worsen](https://feedsoft.ai/events/72862-boeing-and-beans-on-china-s-blacklist-if-us-trade-tensions-worsen.md) | -1.9% | -2.5% |
| SOY | 2022-05-03 | [Slow news day sends corn, soy prices lower – The Seam](https://feedsoft.ai/events/5843-slow-news-day-sends-corn-soy-prices-lower-the-seam.md) | -3.2% | +0.6% |
| SOY | 2025-02-18 | [Trade Tracker: A turning point in the Red Sea shipping crisis? \| NatWest Corporates and Institutions](https://feedsoft.ai/events/16967-trade-tracker-a-turning-point-in-the-red-sea-shipping-crisis-natwest-corporates.md) | -0.7% | -2.0% |
| CORN | 2017-01-20 | [Boeing and beans on China's blacklist if US trade tensions worsen](https://feedsoft.ai/events/72862-boeing-and-beans-on-china-s-blacklist-if-us-trade-tensions-worsen.md) | +0.4% | +1.9% |

## Sources

- apnews.com: https://apnews.com/article/bcacf6b12c5b41009915318d8900d5c0

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