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Investors judged the government's proposal for public debt measures insufficient, and the dollar rose to its highest level in 17 months. The Ibovespa fell 0.43% and the January 2031 DI rate rose from 14.87% to 15.10%.
Markets also reacted to expectations of a more conservative Federal Reserve.
A weaker real raises the local-currency cost of imported feed inputs such as corn, soymeal and fertilizers for Brazilian buyers. Higher domestic rates also raise financing costs for producers and feed operators.
valor.globo.comGabriel Caldeira, Arthur Cagliari e Gabriel RocaNov 13, 2026After 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.
