Wheat prices fell in the US on Tuesday.

The May wheat contract traded in Chicago Board of Trade (CBOT) It closed this Tuesday (23) with a sharp drop of 7.50 points and 1.26%, quoted at US$ cents 587.75/bushel. In Kansas City Bank Exchange (KCBT)The contract for the same month fell 3.00 points and 0.49%, to US$ cents 603.25/bushel. In this trading session, cereal prices were pressured by… easing of geopolitical tensions in the Middle East between the United States and Iran, following the announcement of Donald Trump of Postponement of new attacks in the Persian Gulf and by Progress in negotiations for a ceasefire with the Persian country.In RussiaWheat exports continue to expand, which contributed to the negative outlook. Consulting firm Sovecon has raised its estimate for cereal shipments this March., from 3.8 million tons to 4.2 million tons. A IKAR also increased its projection. from 4.4 million tons to 4.6 million tons. Greater losses were avoided by Strong international demand for US grain.According to what was announced today by United States Department of Agriculture (USDA)The US exported 458,000 tons of wheat last week, a volume 33.4% higher than the 344,000 tons shipped the previous week. The volume shipped also exceeded market expectations., which projected shipments between 250,000 and 450,000 tons. According to the climate bulletin USDA, in the plainsTemperatures have receded from record levels, but remain above normal in many areas for this time of year. Meanwhile, the continuous dry weather continues to reduce soil moisture in the fields of winter wheat.

This text was translated by machine from Brazilian Portuguese.