IBOV 175,710.05 ▼ 0.51% IPC MEX 69,734.34 ▲ 0.38% MERVAL 2,848,945 — — USD/BRL5.35▲ 0.10% USD/MXN18.68▲ 0.03% USD/CLP983.77▼ 0.54% USD/COP3,144▼ 0.15% USD/PEN3.45▲ 0.03% USD/ARS1,538— 0.00% USD/UYU40.21▲ 3.57% USD/PYG5,803▲ 4.05% USD/BOB11.97▲ 4.12% USD/DOP61.22▲ 1.86% USD/CRC451.24▲ 2.31% USD/GTQ7.64▲ 3.15% USD/HNL26.87▲ 3.37% USD/NIO36.62▼ 0.02% USD/VES885.90▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.69▲ 2.51% USD/TTD6.71▲ 1.96% EUR/BRL5.95▼ 0.81% BRENT 109.58 ▼ 5.38% WTI 100.12 ▼ 1.61% IRON ORE 161.91 — — COPPER 6.65 ▲ 2.24% GOLD 4,073 ▲ 0.85% SILVER 54.49 ▲ 0.70% SOY 1,250 ▲ 0.70% CORN 450.25 ▼ 1.04% WHEAT 614.75 ▼ 0.20% COFFEE 294.35 ▼ 2.19% SUGAR 19.26 ▲ 0.84% ORANGE JUICE 143.20 ▲ 5.45% COTTON 77.90 ▼ 1.47% COCOA 5,581 ▲ 1.66% BEEF 230.73 ▲ 0.33% CATTLE 346.40 ▼ 1.00% LITHIUM 62.43 ▲ 1.89% PETR4 53.31 ▼ 1.06% VALE3 62.88 ▼ 2.33% ITUB4 41.42 ▼ 0.67% BBDC4 15.69 ▼ 1.63% ABEV3 15.40 ▲ 0.20% BBAS3 17.59 ▲ 0.69% B3SA3 15.27 ▲ 1.33% WEGE3 45.78 ▲ 2.81% PRIO3 69.21 ▼ 2.71% SUZB3 47.14 ▼ 0.55% RENT3 31.14 ▼ 1.67% AZZA3 16.72 ▲ 1.15% CSAN3 2.69 ▼ 2.89% RAIZ4 0.34 — 0.00% PCAR3 2.22 ▼ 3.48% GMAT3 3.74 ▲ 2.19% PSSA3 47.75 ▼ 0.89% CVCB3 0.98 — 0.00% POSI3 3.56 ▼ 0.84% SLCE3 16.97 ▼ 2.75% NATU3 5.68 ▼ 3.89% BRKM5 3.80 ▲ 19.50% RANI3 7.34 ▼ 0.54% CSNA3 4.76 ▼ 4.99% IBOV 175,710.05 ▼ 0.51% IPC MEX 69,734.34 ▲ 0.38% MERVAL 2,848,945 — — USD/BRL 5.34 ▼ 1.32% USD/MXN 18.69 ▲ 0.62% USD/CLP 983.47 ▼ 0.57% USD/COP 3,149 ▲ 3.06% USD/PEN 3.45 ▲ 0.17% USD/ARS 1,537 ▼ 0.28% USD/UYU 40.21 ▲ 3.57% USD/PYG 5,803 ▲ 3.78% USD/BOB 11.97 ▲ 4.93% USD/DOP 60.54 ▲ 1.83% USD/CRC 451.24 ▲ 2.13% USD/GTQ 7.64 ▲ 3.23% USD/HNL 26.87 ▲ 3.37% USD/NIO 36.62 ▲ 2.81% USD/VES 885.08 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.69 ▲ 2.63% USD/TTD 6.71 ▲ 2.07% EUR/BRL 5.95 ▲ 7.53% BRENT 109.58 ▼ 5.38% WTI 100.12 ▼ 1.61% IRON ORE 161.91 — — COPPER 6.65 ▲ 2.24% GOLD 4,073 ▲ 0.85% SILVER 54.49 ▲ 0.70% SOY 1,250 ▲ 0.70% CORN 450.25 ▼ 1.04% WHEAT 614.75 ▼ 0.20% COFFEE 294.35 ▼ 2.19% SUGAR 19.26 ▲ 0.84% ORANGE JUICE 143.20 ▲ 5.45% COTTON 77.90 ▼ 1.47% COCOA 5,581 ▲ 1.66% BEEF 230.73 ▲ 0.33% CATTLE 346.40 ▼ 1.00% LITHIUM 62.43 ▲ 1.89% PETR4 53.31 ▼ 1.06% VALE3 62.88 ▼ 2.33% ITUB4 41.42 ▼ 0.67% BBDC4 15.69 ▼ 1.63% ABEV3 15.40 ▲ 0.20% BBAS3 17.59 ▲ 0.69% B3SA3 15.27 ▲ 1.33% WEGE3 45.78 ▲ 2.81% PRIO3 69.21 ▼ 2.71% SUZB3 47.14 ▼ 0.55% RENT3 31.14 ▼ 1.67% AZZA3 16.72 ▲ 1.15% CSAN3 2.69 ▼ 2.89% RAIZ4 0.34 — 0.00% PCAR3 2.22 ▼ 3.48% GMAT3 3.74 ▲ 2.19% PSSA3 47.75 ▼ 0.89% CVCB3 0.98 — 0.00% POSI3 3.56 ▼ 0.84% SLCE3 16.97 ▼ 2.75% NATU3 5.68 ▼ 3.89% BRKM5 3.80 ▲ 19.50% RANI3 7.34 ▼ 0.54% CSNA3 4.76 ▼ 4.99%
since 2009
Wednesday, October 28, 2026

Brazil Latin America

The Big Read: Brazil, Wednesday 28 October

By · October 28, 2026 · 5 min read
The curved glass facade of the Superior Electoral Court building in Brasília reflects Brazilian flags, beside a white concrete dome under a blue sky
The Superior Electoral Court headquarters in Brasília, which announced the 25 October 2026 runoff result, pictured in December 2025. The photo does not show the vote count. Photo: Luiz Roberto/TSE / Wikimedia Commons (public domain)
The Big Read · Brazil · Wednesday 28 October 2026

Key Facts

  • Result. Lula won the 25 October runoff with 51.79% of valid votes, about 4.4 million ahead.
  • Extension. Supreme Court Justice Cristiano Zanin extended voting to 19:00, then limited it to polling stations still open.
  • Party. The Liberal Party, the Bolsonaros’ party, recognized Lula’s win on Monday 26 October.
  • Colombia. Colombia’s environment ministry revoked an order that barred new Amazon mining and oil contracts.
  • Power Index. Brazil ranks 1st of 14 in The Rio Times Latin America Power Index, with 75.0 points (October 2026 edition).

Brazil’s election dispute narrowed as Bolsonaro’s own party accepted Lula’s win, while Colombia reopened a rainforest to mining.

In Plain English

  • Superior Electoral Court (TSE): Brazil’s election authority; it runs the vote and declares the winner.
  • Liberal Party (PL): The conservative party of the Bolsonaro family, with the largest bloc in the lower house.
  • Cristiano Zanin: A justice of the Supreme Federal Court, Brazil’s highest court.
  • Flávio Bolsonaro: A senator, the PL candidate and son of former president Jair Bolsonaro.

Lula Wins A Fourth Term

Brazil’s Superior Electoral Court (TSE), the body that runs elections and declares winners, announced on Sunday 25 October that President Luiz Inácio Lula da Silva was re-elected. He won 51.79% of valid votes, about 64.3 million, against 48.21%, about 59.8 million, for Senator Flávio Bolsonaro, the son of former president Jair Bolsonaro.

The margin is about 4.4 million votes. It is Lula’s fourth term as president, after wins in 2002, 2006 and 2022.

A Late Voting Extension

On election day Supreme Federal Court Justice Cristiano Zanin, a member of Brazil’s highest court, ordered voting extended until 19:00 Brasília time, two hours past the normal 17:00 close. Campaigns had complained of public transport problems.

Zanin then clarified that the extension applied only to polling stations still open, and that votes already cast in closed ones would be counted. The TSE resumed its count after the deadline.

Flávio Bolsonaro blamed that order for undermining the result.

The Supreme Federal Court building in Brasília
File photo: the Supreme Federal Court building in Brasília, home of the court on which Justice Zanin sits. The photo does not show the events in this story. Photo: Agência Senado / Wikimedia Commons (CC BY 2.0).

The Liberal Party Breaks Ranks

On Monday 26 October the Liberal Party (PL) issued a statement: “We recognize the presidential result proclaimed by the TSE, but the questions raised need to be clarified.”Flávio Bolsonaro, the party’s own candidate, did not recognize the result and said he intends to seek annulment.

The party’s own note raised a different concern: it asked for clarification of social spending near election day.The PL holds 121 of 513 seats in the lower house.

It is projected to hold 28 of 81 Senate seats from February 2027, which would make it the largest Senate bloc.

Colombia Lifts Its Amazon Mining Ban

Colombia’s Ministry of Environment signed Resolution 1405 on Friday 23 October and announced it on Monday 26 October. It revoked in full Resolution 0961 of 4 August 2026, which had declared an Amazon reserve closed to new mining and oil contracts.

That reserve covered about 483,000 square kilometres (186,600 square miles), roughly 42% of continental Colombia. The ministry cited the lack of prior consultation with Afro-Colombian (Black) communities.

Other forest protections stay in force. The reversal came less than three months after the original order.

The decision is separate from Brazil’s election. It sits in this Big Read because both stories turn on who has the final word over a contested rule.

What Links These Stories

The common thread is contested authority. Brazil’s electoral court declared the result, while the losing candidate still disputes it.

Colombia shows the same question in another form: a ministry has overturned a protection issued less than three months earlier.

The reports behind this Big Read

All of today’s Brazil news →

What It Means for US Readers

For US investors, the Liberal Party’s recognition of Lula’s win removes one source of political risk. The party projected to hold the largest Senate bloc is not leading a fight to cancel the vote.

For US companies and diplomats, the practical task is a Congress where the Liberal Party holds large benches. Tariff talks, tax changes and budget laws will need votes there.

In Colombia, new Amazon mining and oil licences are no longer blocked by that order. US investors should follow any replacement measure.

What to Watch Next

Watch whether Flávio Bolsonaro files a formal annulment petition with the TSE. He has announced the intention.

The TSE must formally certify the winner (diplomação) by 18 December 2026, and Lula is due to take office on 5 January 2027. The transition will test whether the Liberal Party’s recognition turns into cooperation in Congress.

In Colombia, watch for the publication of the revocation and for any new reserve after consultation.

What Is Not Known

Whether Flávio Bolsonaro will file an annulment petition, and how the TSE would treat it, is not established.Whether the Liberal Party will join any legal challenge has not been announced.

Sources

Superior Electoral Court (TSE) · Colombia Ministry of Environment · Brazilian Senate · Chamber of Deputies

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

Frequently Asked Questions

Who won Brazil’s presidential runoff?

Lula won with 51.79% of valid votes, about 4.4 million ahead of Flávio Bolsonaro. The TSE announced the result on Sunday 25 October.

Did Bolsonaro’s party accept the result?

The Liberal Party recognized the result on Monday 26 October, saying questions still needed clarification. Flávio Bolsonaro, its candidate, has not recognized it.

When does Lula’s new term begin?

Lula is due to take office on 5 January 2027. The TSE must formally certify the winner by 18 December 2026.

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Brazil runoff date: Sunday, October 25, poll closing times and when results start · Brazil runoff polls: Flávio 51%, Lula 49% · Kalshi and Polymarket odds

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