Brazil bribe scandal sends ag commodity prices tumbling
If anyone still needed persuading of the influence of Brazil on agricultural commodity markets, Thursday provided conclusive proof.
The focus of the world’s political news moved from Washington – and the claims that President Donald Trump asked former FBI director James Comey in February to abandon a probe into former national security adviser Michael Flynn – south to Brazil, and claims that President Michel Temer endorsed bribery payments.
The allegations against Mr Temer – which are said to stem from a tape handed over as part of a plea bargain by Batista brothers that head meatpacking giant JBS, and who face their own probes – sent the Brazilian real down 8% against the dollar, to a six-month low.
More:http://www.agrimoney.com/marketreport/brazil-bribe-scandal