# Local assets fall to worst levels of the year on fears over economic management

> Brazilian assets closed the session at their worst levels of 2026, with the dollar up 0.79% to R$5.4871, its highest close since late December, and the Ibovespa down 1.42% to 165,529 points, a bear market decline of 20.82% from October highs. The moves followed a proposal by economist André Lara Resende to cut the Selic rate to 7.5% within 12 months, which PT members publicly endorsed, raising fears of heterodox policy in Lula's new term.

- Date: 2026-11-04 · published 2026-11-04T09:08:23.743Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/79480-local-assets-fall-to-worst-levels-of-the-year-on-fears-over-economic-management
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

A weaker real raises the local-currency cost of imported feed inputs and can encourage Brazilian exporters to sell soybeans and corn more aggressively, adding pressure on global soy meal and corn prices. Rising domestic rate and inflation risk also tightens credit for Brazilian feed buyers.

## Read by commodity

- SBM: bearish ▼
- USDBRL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2026-08-28 | [Emerging Markets-Colombian peso heads for worst week in three years on fiscal fears - ILF News \| Rallies](https://feedsoft.ai/events/18166-emerging-markets-colombian-peso-heads-for-worst-week-in-three-years-on-fiscal.md) | -1.2% | +0.4% |
| USDBRL | 2018-01-01 | [What a year of elections means for Latin America's economies \| World Economic Forum](https://feedsoft.ai/events/67246-what-a-year-of-elections-means-for-latin-america-s-economies-world-economic.md) | -2.5% | -3.8% |
| USDBRL | 2021-02-23 | [USD/BRL: Brazilian real set to depreciate modestly versus the dollar over the next year – Capital Economics — Octa](https://feedsoft.ai/events/48849-usd-brl-brazilian-real-set-to-depreciate-modestly-versus-the-dollar-over-the.md) | +1.7% | +1.0% |
| USDBRL | 2021-01-22 | [Latam FX falls as dollar rises, Brazil real lags peers for the week - Markets - Business Recorder](https://feedsoft.ai/events/49387-latam-fx-falls-as-dollar-rises-brazil-real-lags-peers-for-the-week-markets.md) | +0.4% | +0.3% |
| USDBRL | 2019-06-27 | [Brazilian real falls on economy worries, dollar lifts other Latam forex - Pension Policy International](https://feedsoft.ai/events/58796-brazilian-real-falls-on-economy-worries-dollar-lifts-other-latam-forex-pension.md) | +0.2% | -1.2% |
| SBM | 2018-09-28 | [US-China trade war may push yuan 10 percent lower: Economist Andy Xie](https://feedsoft.ai/events/63265-us-china-trade-war-may-push-yuan-10-percent-lower-economist-andy-xie.md) | +0.1% | -1.3% |
| SBM | 2022-06-28 | [Argentina's economic crisis whack-a-mole goes into overdrive \| Reuters](https://feedsoft.ai/events/41227-argentina-s-economic-crisis-whack-a-mole-goes-into-overdrive-reuters.md) | +2.3% | +0.9% |
| SBM | 2025-02-04 | [Analysts lower Mexico's 2025 economic growth forecast, see weaker peso \| Reuters](https://feedsoft.ai/events/26265-analysts-lower-mexico-s-2025-economic-growth-forecast-see-weaker-peso-reuters.md) | -1.0% | -4.0% |

## Sources

- valor.globo.com: https://valor.globo.com/financas/noticia/2026/11/04/ativos-locais-vao-aos-piores-niveis-do-ano-com-temor-sobre-conducao-da-economia.ghtml

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