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Brazil's central bank cut interest rates while signaling it could slow the pace of cuts amid a political storm. The article's text is mostly page navigation, so the details of the decision are limited.
Lower Brazilian rates tend to weaken the real, which can make Brazilian soy and corn exports more competitive and weigh on global feed grain prices. Political uncertainty adds volatility to the currency outlook.
reuters.comMay 31, 2017After 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.
After 50 past neutral macro events, Soybeans moved a median -0.3% over 5 sessions (48% higher; middle half -2.2% to +1.3%), and -0.8% 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.
