At 9:35 am (Brasilia time) this Wednesday (2), the November soybean contract traded on Chicago Stock Exchange (CBOT) The Brazilian futures contract was trading sharply lower, down 16.00 points and 1.21%, quoted at US$ cents 1,301.75/bushel. The January 2027 contract fell 15.75 points and 1.18%, to US$ cents 1,317.00/bushel. On the other hand, assets have accumulated gains so far this week, of 1.11% and 1.15%, respectively. Regarding derivatives, the… oil It depreciated by 0.70%, while the bran It fell by 1.53%.
Corn
The December corn contract traded on CBOT The Brazilian futures contract fell 8.75 points and 1.60%, trading at US$ cents 537.25/bushel; the March 2027 contract lost 8.25 points and 1.47%, at US$ cents 552.00/bushel. For the week, both contracts have accumulated a decline of 0.14%.
Wheat
The December wheat contract traded in Chicago It fell 8.75 points and 1.12%, quoted at US$ cents 773.75/bushel, with a depreciation of 1.34% in the partial week. Meanwhile… Kansas City Bank Exchange (KCBT)Meanwhile, the contract expiring in the same month fell 13.00 points and 1.54%, to US$ cents 832.25/bushel – a weekly loss of 1.42%.
Market fundamentals
This morning, agricultural commodities were pressured by widespread profit-taking after gains in previous sessions. At the same time, the market remains attentive to the risks of disruption to the flow of grains and oilseeds through the Black Sea, given the ongoing conflict between Russia and Ukraine. Investors are also monitoring the war between the United States and Iran. According to press reports, Tehran retaliated with new US attacks overnight, hitting targets in Kuwait, Jordan, and Bahrain. Furthermore, a tanker transiting the Strait of Hormuz was hit by three projectiles of unknown origin while attempting to leave the waterway, according to UK Maritime Trade Operations. There were no reports of casualties. The escalation of the conflict has driven up oil prices in the international market, a movement that tends to improve the competitiveness of biofuels produced from agricultural raw materials and offers some support to the soybean and corn complex. In the United States, the weather also remains on the radar. Maps from the National Weather Service (NWS) indicate extreme heat warnings for areas of southeastern Iowa, northwestern Illinois, and northeastern Missouri. The warnings also remain in effect through Saturday for parts of southern Illinois and Missouri, as well as areas of Indiana and Kentucky. "This week of extreme and dangerous heat shows no signs of abating," the NWS reported, adding that the high temperatures, combined with humidity, increase the risks associated with the prolonged heat wave.
This text was translated by machine from Brazilian Portuguese.