# Chairman of Protein Powerhouse at Center of Bribery Allegations

> DTN reports that JBS chairman Joesley Batista is caught up in a Brazilian bribery scandal, with testimony showing at least $2.2 million in bribes to President Temer. JBS is not under investigation in the U.S., and about half its revenue comes from U.S. operations.

- Date: 2017-05-19 · published 2017-05-19T12:00:00.000Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/7586-chairman-of-protein-powerhouse-at-center-of-bribery-allegations
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

The scandal mainly affects corporate and political risk for a major meatpacker, with limited direct effect on feed commodity prices.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2020-05-13 | [Dollar up as Powell downplays chances of negative U.S. interest rates \| Financial Post](https://feedsoft.ai/events/53332-dollar-up-as-powell-downplays-chances-of-negative-u-s-interest-rates-financial.md) | -0.8% | +1.9% |
| SOY | 2023-06-27 | [Brazil central bank minutes raise possibility of August rate cut \| Reuters](https://feedsoft.ai/events/35693-brazil-central-bank-minutes-raise-possibility-of-august-rate-cut-reuters.md) | +2.7% | -0.4% |
| SOY | 2020-09-30 | [Prices for vegetable oil are falling after oil quotations](https://feedsoft.ai/events/51197-prices-for-vegetable-oil-are-falling-after-oil-quotations.md) | +5.1% | +9.0% |
| SOY | 2017-06-28 | [The situation in the US is improving because of the precipitation, in Ukraine however it does not rain](https://feedsoft.ai/events/70610-the-situation-in-the-us-is-improving-because-of-the-precipitation-in-ukraine.md) | +7.1% | +8.5% |
| SOY | 2020-03-20 | [Dollar rampage spurs FX interventions, speculation of big G7 move](https://feedsoft.ai/events/7020-dollar-rampage-spurs-fx-interventions-speculation-of-big-g7-move.md) | +4.4% | -1.3% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/news/article/2017/05/19/chairman-protein-powerhouse-center

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