Add trigger-happy Brazilian prosecutors to the list of probable drivers of commodity markets in the coming months.
As the pandemic strains supplies, judges in Brazil have granted prosecutors’ requests to shut major mining and meat operations in recent weeks. That contrasts with the US where officials have taken steps for industries to continue operations while implementing measures to contain the virus.
The aggressive legal moves are for technical as well as cultural reasons. Brazil’s system of civil law restricts judges’ interpretations to matters in which the law offers no guidance, giving them less leeway to throw out actions from prosecutors.