When I compare the Brazilian real to a rock, I’m not talking about a rolling stone with lots of movement (including the septuagenarian rock band) but rather a rock that just sits at the bottom of a river and watches the world float by. October saw the real close at 0.17742, down 0.00625 for the month and still within sight of its previous low of 0.17008 (March 2021) and major (long-term) low of 0.16756 (May 2020). The weak status quo of the real could play a part in the 2022 global soybean market, and with early chatter about improved prospects for Brazilian production there is cause for at least some concern in the US soybean industry as the 2021 harvest nears its end.
