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Brazil soybean meal prices post sharpest daily drop since April after presidential election

Brazilian soybean meal export prices posted their steepest daily decline since mid-April on Oct. 26 and fell to their lowest level since late August, as domestic markets were rattled by the surprise reelection of President Luiz Inácio Lula da Silva.

  • Brazilian soybean meal prices dropped sharply by $14.22 per metric ton on October 26.
  • Decline attributed to domestic market volatility after Lula's reelection.
  • Spot FOB Paranaguá soybean meal reached lowest level since August 24.

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