# Brazil Election: Global Commodity Prices Fall on Real's 12% Slide | Whalesbook

> Following Lula da Silva's election in Brazil, the real fell roughly 8-12% against the US dollar. The currency slide triggered a sell-off in sugar, coffee and soybean futures, and the Bovespa index dropped nearly 14%, activating circuit breakers.

- Date: 2026-11-01 · published 2026-11-02T00:09:07.923Z
- Category: macro · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/74323-brazil-election-global-commodity-prices-fall-on-real-s-12-slide-whalesbook
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

A weaker real lowers the dollar cost of Brazilian exports, which pressures global soybean and sugar prices as Brazilian producers gain competitiveness. Feed buyers may see softer soybean meal and soy complex prices if the currency weakness holds.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2017-06-26 | [Slumping Commodity Prices Pressure the Brazilian Real in 2Q17](https://feedsoft.ai/events/70712-slumping-commodity-prices-pressure-the-brazilian-real-in-2q17.md) | -0.7% | -5.4% |
| USDBRL | 2021-10-19 | [Brazil's real slumps on fiscal concerns, Petrobras slides](https://feedsoft.ai/events/44780-brazil-s-real-slumps-on-fiscal-concerns-petrobras-slides.md) | +1.4% | -0.4% |
| USDBRL | 2018-05-15 | [Brazil's real continues its slump amid election uncertainty \| AP News](https://feedsoft.ai/events/65228-brazil-s-real-continues-its-slump-amid-election-uncertainty-ap-news.md) | +2.4% | +1.5% |
| USDBRL | 2022-10-31 | [Brazil's real down after Lula wins presidential election; Bolsonaro yet to concede](https://feedsoft.ai/events/39344-brazil-s-real-down-after-lula-wins-presidential-election-bolsonaro-yet-to.md) | -5.8% | -1.1% |
| USDBRL | 2026-10-01 | [Brazilian Real Under Pressure Ahead of Election](https://feedsoft.ai/events/4935-brazilian-real-under-pressure-ahead-of-election.md) | -3.5% | +4.1% |
| SOY | 2025-12-23 | [Real slides on election fears, seasonal dollar outflows](https://feedsoft.ai/events/21717-real-slides-on-election-fears-seasonal-dollar-outflows.md) | -0.7% | +1.0% |
| SOY | 2017-01-27 | [World events and their effect on agricultural commodity prices](https://feedsoft.ai/events/73092-world-events-and-their-effect-on-agricultural-commodity-prices.md) | -1.2% | -3.4% |
| SOY | 2020-04-21 | [COVID-19 infects nearly all commodity prices \| Capital Press](https://feedsoft.ai/events/6503-covid-19-infects-nearly-all-commodity-prices-capital-press.md) | +0.3% | +2.2% |

## Sources

- whalesbook.com: https://www.whalesbook.com/news/English/commodities/Brazil-Election-Global-Commodity-Prices-Fall-on-Reals-12percent-Slide/6ae72e8b4fc30694db5647b7

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