At 9:31 am (Brasilia time) this Thursday (6), the September soybean contract traded on Chicago Stock Exchange (CBOT) The Brazilian real was trading slightly lower, down 1.25 points and 0.11%, quoted at US$ cents 1,155.25/bushel. The November contract showed a downward bias (0.75 points and 0.06%), at US$ cents 1,174.00/bushel. In the weekly partial results, the assets were down 1.32% and 1.14%, respectively. Regarding derivatives, the… bran and the oil They rose 0.16% and 0.06%, respectively.
Corn
The September corn contract traded on CBOT The futures contract fell 0.75 points and 0.17%, trading at US$ cents 436.00/bushel, with a partial weekly loss of 1.08%. The December contract fell 1.00 point and 0.22%, to US$ cents 459.00/bushel – a weekly depreciation of 1.00%.
Wheat
The September wheat futures contract traded in Chicago showed a downward bias (0.25 points and 0.04%), quoted at US$ 642.00 cents/bushel. Kansas City Bank Exchange (KCBT)The contract for the same month fell 1.50 points and 0.21%, to US$ cents 712.00/bushel. On the other hand, both assets accumulated partial gains for the week, of 0.43% and 0.64%, respectively.
Market fundamentals
This morning, soybean and corn markets remained pressured by expectations that recent rains in the U.S. Midwest have favored crop development, reducing concerns about productivity. Later today, the Department of Agriculture (USDA) will release the weekly update of the Drought Monitor, which should indicate improved conditions in soybean and corn producing areas. Meanwhile, the National Weather Service (NWS) The government issued flood warnings for parts of Kansas and Missouri, and highlighted the risk of storms with strong winds and hail. In the wheat market, the movement was one of profit-taking after gains recorded earlier in the week, although investors continue to monitor the impacts of the conflict between Russia and Ukraine on trade through the Black Sea. According to data from Ukrainian port authorities, Russia carried out 57 attacks against vessels and 67 attacks on port infrastructure during the month of July. The Lloyd's List consultancy stated in a report released this week that the Black Sea has now become the most dangerous waterway in the world, surpassing even the Strait of Hormuz, due to the intensification of clashes in the region. On the Russian side, wheat exports fell 18% in July to 1.8 million tons, according to data from the Russian Grain Union, released by the Interfax agency. On the radar, in addition to the Drought Monitor, the market awaits the weekly export sales report. USDAwhich should offer new clues about the pace of international demand for US agricultural commodities.
This text was translated by machine from Brazilian Portuguese.