# Dollar Rise Does Not Pass Fully to Soybean and Corn Prices in Brazil

> After Luiz Inácio Lula da Silva won Brazil's presidential runoff on October 25, the dollar rose 9.2% in Brazil between October 23 and 30. Soybean FOB Paranaguá gained 4.3% in reais, but the January 2027 Chicago contract fell 2.7% and Paranaguá FOB dropped 1.6% in dollars. Corn rose even less, with traders holding back supply and export premiums easing early in the week.

- Date: 2026-11-04 · published 2026-11-04T19:35:40.530Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/80382-dollar-rise-does-not-pass-fully-to-soybean-and-corn-prices-in-brazil
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

A weaker real normally supports Brazilian export prices, but falling Chicago futures and lower premiums capped the gain, so the currency alone will not set soybean or corn export values. Buyers should watch Chicago and premiums alongside the exchange rate.

## Read by commodity

- SOY: neutral
- CORN: neutral
- USDBRL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2017-05-18 | [Brazil's Scandal Hits Soybean Prices](https://feedsoft.ai/events/7584-brazil-s-scandal-hits-soybean-prices.md) | +5.6% | +5.6% |
| USDBRL | 2024-09-12 | [Brazilian market has firm prices and new area cut in the summer corn crop](https://feedsoft.ai/events/13549-brazilian-market-has-firm-prices-and-new-area-cut-in-the-summer-corn-crop.md) | -2.9% | -1.2% |
| USDBRL | 2018-08-13 | [Turkish crisis drives up dollar in Brazil - ANBA News Agency](https://feedsoft.ai/events/9469-turkish-crisis-drives-up-dollar-in-brazil-anba-news-agency.md) | +2.2% | +6.6% |
| USDBRL | 2024-09-23 | [Dollar rises more than 1% at the start of a week marked by inflation data in Brazil and the US \| Brasil 247](https://feedsoft.ai/events/28517-dollar-rises-more-than-1-at-the-start-of-a-week-marked-by-inflation-data-in.md) | -1.1% | +3.9% |
| USDBRL | 2018-06-28 | [How a Rising U.S. Dollar Puts Argentina's and Brazil's Economies at Risk](https://feedsoft.ai/events/64805-how-a-rising-u-s-dollar-puts-argentina-s-and-brazil-s-economies-at-risk.md) | +1.8% | -3.2% |
| SOY | 2023-11-16 | [Strong dollar inflows support Brazilian real](https://feedsoft.ai/events/33375-strong-dollar-inflows-support-brazilian-real.md) | -2.1% | -5.1% |
| SOY | 2026-10-27 | [First Thing Today \| Soybeans see small bounce as Brazilian real stabilizes - Pro Farmer](https://feedsoft.ai/events/436-first-thing-today-soybeans-see-small-bounce-as-brazilian-real-stabilizes-pro.md) | +0.5% | — |
| SOY | 2026-01-27 | [Dollar sinks to four-year low as intervention risk lifts yen](https://feedsoft.ai/events/21293-dollar-sinks-to-four-year-low-as-intervention-risk-lifts-yen.md) | -0.1% | +7.3% |

## Sources

- noticiasagricolas.com.br: https://www.noticiasagricolas.com.br/noticias/agronegocio/430823-alta-do-dolar-nao-chega-na-mesma-proporcao-aos-precos-da-soja-e-do-milho-no-brasil.html

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