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A survey of 323 Brazilian farmers across 14 states, conducted after the October presidential election, found 74% expect 2027 to be worse than 2026 and 84% expect higher borrowing costs. Most said they plan no increase in investment, and only 5% were fully optimistic.
The pessimism persisted despite a 9% surge in the dollar against the real in the week after the vote.
Tighter credit and reduced investment could slow input purchases and farm expansion, affecting future feed-grain and oilseed supply growth. Nearly 80% of farmers said exchange-rate expectations drive their marketing decisions, which may hold back or stagger sales of soybeans and corn.
theagribiz.comTatiana FreitasNov 3, 2026After 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 78 past neutral macro events, CORN moved a median +0.3% over 5 sessions (55% higher; middle half -1.1% to +1.6%), and -0.6% over 20.
After 50 past neutral macro events, SOY moved a median -0.3% over 5 sessions (48% higher; middle half -2.2% to +1.3%), and -0.8% 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.
