# Brazil's Scandal Hits Soybean Prices

> DTN reports that the Brazilian real roughly doubled its daily chart range and fell sharply on May 17, 2017, after fresh news tied President Temer to alleged bribes linked to a JBS executive's testimony. The move was not caused by pension reform or central bank rate expectations.

- Date: 2017-05-18 · published 2017-05-18T12:00:00.000Z
- Category: macro · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/7584-brazil-s-scandal-hits-soybean-prices
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

The currency shock makes Brazilian soybean exports more competitive, which is bearish for U.S. soybean and corn prices and adds uncertainty for buyers.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| USDBRL | 2017-05-18 | 5 | +7.4% | 3.4 | Identifies the scandal tied to the JBS executive's testimony, rather than rates or reform, as the cause of the sharp real drop and widened range. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2026-03-01 | [Why Corn and Soybean Prices May Not Rebound Until 2027](https://feedsoft.ai/events/20625-why-corn-and-soybean-prices-may-not-rebound-until-2027.md) | +2.4% | +0.2% |
| SOY | 2017-05-18 | [U.S. grains: Soybeans fall as Brazilian currency dives - AgCanada](https://feedsoft.ai/events/7583-u-s-grains-soybeans-fall-as-brazilian-currency-dives-agcanada.md) | -2.8% | -4.2% |
| SOY | 2025-04-07 | [Palm and soybean oil prices fell by 4.4-5.9% amid a 14.5% drop in oil prices in two days](https://feedsoft.ai/events/9630-palm-and-soybean-oil-prices-fell-by-4-4-5-9-amid-a-14-5-drop-in-oil-prices-in.md) | +6.7% | +6.2% |
| SOY | 2020-03-10 | [Corn, soybean prices fall, equity markets collapse \| TSLN.com](https://feedsoft.ai/events/11275-corn-soybean-prices-fall-equity-markets-collapse-tsln-com.md) | -4.8% | -0.9% |
| SOY | 2025-04-07 | [Palm and Soy Oil Prices Drop as Oil Prices Decline](https://feedsoft.ai/events/9631-palm-and-soy-oil-prices-drop-as-oil-prices-decline.md) | +6.7% | +6.2% |
| CORN | 2026-03-01 | [Why Corn and Soybean Prices May Not Rebound Until 2027](https://feedsoft.ai/events/20625-why-corn-and-soybean-prices-may-not-rebound-until-2027.md) | +2.0% | +5.1% |
| CORN | 2017-05-18 | [U.S. grains: Soybeans fall as Brazilian currency dives - AgCanada](https://feedsoft.ai/events/7583-u-s-grains-soybeans-fall-as-brazilian-currency-dives-agcanada.md) | +0.7% | +1.3% |
| CORN | 2020-03-10 | [Corn, soybean prices fall, equity markets collapse \| TSLN.com](https://feedsoft.ai/events/11275-corn-soybean-prices-fall-equity-markets-collapse-tsln-com.md) | -3.4% | -3.3% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/blogs/market-matters-blog/blog-post/2017/05/18/brazils-scandal-hits-soybean-prices

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