{
  "id": 11513069,
  "title": "Brazil’s Real: Speculators Raise Net Bets to 60,538 Contracts Before Vote",
  "url": "https://urgent.news/2026/10/02/brazils-real-speculators-raise-net-bets-to-60-538-contracts-before",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-02T19:49:05.000Z",
  "source": {
    "name": "The Rio Times",
    "slug": "the-rio-times",
    "url": "https://www.riotimesonline.com/brazil-cftc-brl-speculative-positions-october-2026/"
  },
  "original_language": "en",
  "account": "On Tuesday 29 September, speculators in US futures markets had a net position of 60,538 contracts on Brazilian reais before Brazil's presidential and gubernatorial vote on 4 October. This was a rise of 6,337 contracts from the previous week, according to the US Commodity Futures Trading Commission (CFTC) report published on Friday 2 October. The figures covered the full week before the election. The CFTC's weekly report tracks open positions in US futures markets, including currency contracts traded on the Chicago Mercantile Exchange (CME). Most of the traders who influence the position are \"non-commercial\" traders such as hedge funds and other investment funds. The net position comprised 96,067 long contracts that profit if the real strengthens and 35,529 short contracts that profit if it weakens. Over the week, traders added 11,315 long contracts and 4,978 short ones, bringing the total open interest to 146,704 contracts. The Brazilian real's strength is partly due to the Central Bank of Brazil cutting its Selic rate from 15% to 13.75% this year, an attractive strategy known as the carry trade. The Brazilian real weakened slightly against the US dollar in the week covered by the report, going from 5.1006 reais per dollar on 22 September to 5.2019 on 29 September, and closing at 5.2176 per dollar on 1 October. The report shows funds' exposure to the real's movements ahead of the vote, highlighting how quickly the currency could drop or rise if traders sell or buy in a hurry. The next report, due on Friday 9 October, will show positions on Tuesday 6 October, two days after the first round of voting. A larger net long position does not guarantee a rise in the real's value, as crowded positions can unwind rapidly when unexpected news breaks. The report only shows open positions in US futures markets and is not a predictor of the real's future value. Much more trading in the real takes place in other markets, such as the B3 S&P futures exchange in São Paulo. The weekly CFTC report shows open positions in US futures markets by trader type, released on Friday at 3:30 p.m. Eastern time.",
  "summary": "Speculators’ net long position in Brazilian real futures was 60,538 contracts on 29 September, up 6,337 from a week earlier, CFTC data show, before Sunday’s election. The post Brazil’s Real: Speculators Raise Net Bets to 60,538 Contracts Before Vote appeared first on The Rio Times .",
  "key_points": [
    "Speculators held 60,538 Brazilian real contracts before the vote.",
    "Net position increased by 6,337 contracts from the previous week.",
    "Most traders were non-commercial hedge funds and investment funds."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}