# U.S. grains: Soybeans fall as Brazilian currency dives - AgCanada

> U.S. soybean futures fell more than 3% on May 18, 2017, after Brazil's real dropped over 7% following corruption allegations against President Michel Temer. Corn and wheat followed soybeans lower. Brazil had just completed a record soybean harvest, and farmers had sold only about half of it by early May.

- Date: 2017-05-18 · published 2017-05-18T12:00:00.000Z
- Category: macro · region Brazil · magnitude high
- Page: https://feedsoft.ai/events/7583-u-s-grains-soybeans-fall-as-brazilian-currency-dives-agcanada
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

A weaker real makes Brazilian soybeans cheaper in dollar terms and encourages farmers to sell their large unsold stocks, adding competitive pressure on U.S. soy and corn export prices.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| USDBRL | 2017-05-18 | 5 | +7.4% | 3.4 | Confirms the real fell over 7% on corruption allegations on May 18, though its main focus is the soybean price effect, a consequence of the move. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2018-06-06 | [Brazilian currency drops against the US dollar \| AP News](https://feedsoft.ai/events/5378-brazilian-currency-drops-against-the-us-dollar-ap-news.md) | -2.7% | +2.7% |
| USDBRL | 2026-06-30 | [Brazilian Real: Rising rates signal currency risk – Commerzbank](https://feedsoft.ai/events/19017-brazilian-real-rising-rates-signal-currency-risk-commerzbank.md) | -0.6% | -1.3% |
| USDBRL | 2024-12-19 | [Why Brazil’s currency is plunging](https://feedsoft.ai/events/27149-why-brazil-s-currency-is-plunging.md) | -0.5% | -2.5% |
| USDBRL | 2017-05-18 | [Brazil's Scandal Hits Soybean Prices](https://feedsoft.ai/events/7584-brazil-s-scandal-hits-soybean-prices.md) | +5.6% | +5.6% |
| USDBRL | 2016-11-01 | [Brazil, Mexico currencies weaken after strong U.S. data](https://feedsoft.ai/events/11054-brazil-mexico-currencies-weaken-after-strong-u-s-data.md) | +1.0% | +6.9% |
| WHEAT | 2021-12-01 | [U.S. grains: Wheat extends slide as Omicron worries mount - AgCanada](https://feedsoft.ai/events/43653-u-s-grains-wheat-extends-slide-as-omicron-worries-mount-agcanada.md) | +0.7% | -1.7% |
| WHEAT | 2020-09-21 | [U.S. grains: Wheat, soy, corn fall sharply on fund selling - Grainews](https://feedsoft.ai/events/11765-u-s-grains-wheat-soy-corn-fall-sharply-on-fund-selling-grainews.md) | -1.9% | +7.9% |
| WHEAT | 2017-10-27 | [U.S. grains: Wheat futures sink as dollar rallies - Grainews](https://feedsoft.ai/events/68496-u-s-grains-wheat-futures-sink-as-dollar-rallies-grainews.md) | -4.0% | -5.9% |

## Sources

- agcanada.com: https://www.agcanada.com/daily/u-s-grains-soybeans-fall-as-brazilian-currency-dives
- grainews.ca: https://www.grainews.ca/daily/u-s-grains-soybeans-fall-as-brazilian-currency-dives/

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