
The US dollar rose 9.15% over the week following Brazil's presidential runoff, its largest weekly gain since 2008. The Ibovespa fell 18.12%, its steepest weekly drop since March 2020, with the real closing at R$5.446.
The sharp real depreciation makes Brazilian soybean and corn exports more price-competitive, which can weigh on world prices, while raising Brazilian feed input costs.
After 301 past bullish macro events, USDBRL moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.7%), and +1.0% over 20.
After 273 past bearish macro events, SOY moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.4%), and -0.5% 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.