Soybean Futures Fall as Weaker Brazilian Real Makes Exports Cheaper
Soybean futures on the CBOT dropped 1.2% as the Brazilian real lost ground after Lula's election win, according to Daily Grain Highlights.
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what happened
According to Daily Grain Highlights, November soybean futures slid 1.2% on Monday, dropping to about $12.41¼ a bushel on the Chicago Board of Trade. The move followed a sharp fall in Brazil's currency after President Luiz Inacio Lula da Silva unexpectedly won re-election. A weaker real makes Brazilian soybean exports cheaper, which pressured prices.
December wheat lost 1.4% to $6.16 a bushel, while December corn eased 0.2% to $4.55. StoneX analyst Arlan Suderman said China's purchases are driven by politics rather than economics, though a weaker currency could reduce demand from other buyers.
USDA export inspections showed soybean shipments rising to 2.48 million metric tons in the week to October 22, up from 2.07 million the week before, while corn and wheat inspections declined.
why it matters
For grain traders, currency swings in major exporters such as Brazil can quickly reshape global export competition. The same report noted that SovEcon expects Russia's October wheat exports at 2.8 million tons, and that ruble wheat prices rose for a second week as farmer selling slowed.
market impact
Soybeans and grains: a weaker real makes Brazilian exports cheaper, pressuring CBOT futures
tags
instruments
sources
- Soybean Futures Hit By Slide in Brazilian Real — Daily Grain Highlights, 26 October 2026 at 19:19 UTC
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