IBOV 192,114.55 ▲ 2.63% IPSA 10,916.57 ▲ 0.08% IPC MEX 64,531.68 ▲ 1.10% MERVAL 2,767,663 ▲ 0.32% COLCAP 2,515.02 ▼ 0.59% BVL PERÚ 59,751.67 ▲ 0.18% USD/BRL5.22▲ 0.17% USD/MXN18.18▲ 0.09% USD/CLP989.60— 0.00% USD/COP3,254▼ 0.27% USD/PEN3.46▲ 0.57% USD/ARS1,524▼ 0.04% USD/UYU40.46▲ 3.63% USD/PYG5,821▲ 3.10% USD/BOB11.93▲ 1.99% USD/DOP59.90▲ 0.84% USD/CRC456.38▲ 2.99% USD/GTQ7.64▲ 3.13% USD/HNL26.86▲ 3.18% USD/NIO36.62— 0.00% USD/VES869.19▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.69▲ 1.65% EUR/BRL5.86▼ 0.21% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73% IBOV 192,114.55 ▲ 2.63% IPSA 10,916.57 ▲ 0.08% IPC MEX 64,531.68 ▲ 1.10% MERVAL 2,767,663 ▲ 0.32% COLCAP 2,515.02 ▼ 0.59% BVL PERÚ 59,751.67 ▲ 0.18% USD/BRL 5.16 ▲ 0.01% USD/MXN 17.06 ▼ 0.24% USD/CLP 913.98 ▲ 0.04% USD/COP 3,140 ▲ 0.03% USD/PEN 3.36 ▼ 0.66% USD/ARS 1,493 ▲ 0.10% USD/UYU 40.27 ▲ 1.24% USD/PYG 5,939 ▲ 1.68% USD/BOB 11.64 ▼ 0.76% USD/DOP 58.34 ▲ 1.25% USD/CRC 445.92 ▲ 0.89% USD/GTQ 7.62 ▲ 2.21% USD/HNL 26.79 ▲ 1.57% USD/NIO 36.62 ▲ 0.69% USD/VES 762.44 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.28 — 0.00% USD/TTD 6.70 ▲ 0.61% EUR/BRL 5.95 ▲ 1.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73%
since 2009
Monday, October 5, 2026

Two Governors Shake Up the Brazil 2026 Election

By · March 24, 2026 · 3 min read

Key Points

—Paraná Governor Ratinho Junior dropped his presidential bid on Monday to stay in office and protect his political succession against Senator Sergio Moro, who is joining the PL party to run for governor with Flávio Bolsonaro’s backing.
—Rio de Janeiro Governor Cláudio Castro resigned on the eve of a TSE trial where two justices have already voted to strip his mandate and declare him ineligible until 2030 over alleged campaign fraud involving 27,000 irregular hires.
—Both moves reshape the Brazil 2026 election landscape — Ratinho’s exit elevates Ronaldo Caiado as the PSD’s likely presidential candidate, while Castro’s gamble leaves Rio under a judge’s interim control.
—Moro’s PL affiliation ceremony takes place Tuesday in Brasília, consolidating the Bolsonaro family’s grip on the conservative opposition ahead of October’s vote.

Two governors executed opposite maneuvers on Monday that reshaped the Brazil 2026 election map in a single afternoon. Paraná’s Ratinho Junior abandoned his presidential campaign to stay in office, while Rio de Janeiro’s Cláudio Castro resigned his governorship hours before a court ruling that could end his political career, The Rio Times, the Latin American financial news outlet, reports.

Both decisions, according to senior Bolsonaro-allied politicians, were driven by the same calculation: protecting their political heirs at the expense of the PL party’s broader strategy. The moves came on the same day Moro’s affiliation to the PL was confirmed for Tuesday in Brasília.

Ratinho Drops Out to Fight Moro in Paraná

Ratinho Junior was the PSD’s strongest presidential pre-candidate, polling at 7% in the Quaest survey — ahead of Caiado at 4% and Eduardo Leite at 3%. But his real problem was closer to home. After Flávio Bolsonaro sealed an alliance with ex-judge Sergio Moro for the Paraná governorship, the threat to Ratinho’s political machine became existential.

Two Governors Shake Up the Brazil 2026 Election.

By staying in office, Ratinho retains control of the state apparatus and can campaign directly for his chosen successor — either Cities Secretary Guto Silva or state assembly president Alexandre Curi. A senior PL figure told the Estadão newspaper that Ratinho committed a “basic political error” by assuming the party would abandon its Moro alliance once the PSD made its move.

Ratinho’s withdrawal pushes Goiás Governor Ronaldo Caiado closer to the PSD’s presidential nomination. Bolsonaro allies view this favorably, believing Caiado would attack the PT more aggressively than Ratinho would have. The decision also eliminates Lula’s preferred scenario of a fragmented center-right field diluting the conservative vote.

Castro Resigns to Dodge the Brazil 2026 Election Tribunal

Castro’s gamble is more desperate. The TSE is judging allegations that his 2022 re-election campaign used roughly 27,000 irregular temporary hires at the Ceperj foundation as disguised campaign workers, with R$250 million ($46 million) allegedly paid through cash withdrawals. The score stands at 2-0 for conviction, with the trial resuming Tuesday.

By resigning before the verdict, Castro avoids the humiliation of being stripped of office by a court. But legal experts note the resignation does not prevent the TSE from declaring him ineligible — it merely removes the cassation component. Castro leads Senate polls in Rio at 23%, and his entire strategy depends on preserving his right to run.

Rio now falls to TJ-RJ president Ricardo Couto as interim governor, since the vice governor left for a state audit court seat and the assembly president was removed by the Supreme Court. The PL had preferred Castro stay to control the state machine through election season and boost Flávio Bolsonaro’s slate of candidates.

What It Means for October

The twin maneuvers consolidate the Bolsonaro family’s dominance over the conservative opposition while creating turbulence in two key states. Moro’s formal entry into the PL gives Flávio a powerful ally in the south, but the Paraná governor race now pits the Bolsonaro machine against a sitting governor with 85% approval.

In Rio, the TSE’s expected ruling on Tuesday could settle whether Castro remains a player or becomes a cautionary tale. For a Brazil 2026 election cycle already marked by Bolsonaro’s imprisonment, Lula’s falling approval, and a global oil crisis reshaping the economy, Monday’s double shock was a reminder that the real campaign has only just begun.

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This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief

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