The Brazilian real closed at R$5.4863 per dollar after fiscal worries tied to the new Lula government. Focus survey projections for the year-end Selic rose from 13.25% to 13.50%, and the 2027 forecast rose from 11.75% to 12.50%.
The Central Bank rate decision is due after the market closes today.
A weaker real and higher expected interest rates raise the cost of imported inputs for Brazilian feed producers and can shift Brazilian export competitiveness for soy and corn.
After 301 past bullish macro events, Brazilian Real (BRL per USD) moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.7%), and +1.0% 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.