[Brazilian election shocks real, soybean, coffee and sugar prices all fall] On October 27th, Brazilian President Lula’s unexpected victory hit the country’s currency and improved the export prospects of this major agricultural trading country, and the prices of major agricultural products fell accordingly. U.S. dollar-denominated futures for Brazilian agricultural exports fell one after another, with sugar prices falling by more than 5%, the largest intraday drop since May; Arabica coffee once fell by 4.1%, and soybeans once fell by 2.3%. Traders believed that President Lula, who unexpectedly won the election, was less willing to curb public spending, and the real fell as much as 11%. A weaker real has also boosted the export competitiveness of Brazilian agricultural products. This has a significant impact on global agricultural prices, as Brazil is the world's largest exporter of soybeans, sugar, coffee and cotton, as well as a major player in other markets such as soybean meal.