The August soybean contract traded on Chicago Board of Trade (CBOT) The futures contract closed this Wednesday (15) with a moderate increase of 9.50 points and 0.80%, quoted at US$ cents 1,202.25/bushel; the September contract rose 11.00 points and 0.93%, to US$ cents 1,192.25/bushel. The maturities accumulated gains in the partial week, of 0.88% and 0.93%, in that order. As for derivatives, the oil and the bran They increased in value by 0.83% and 0.72%, respectively.
Corn
The September corn contract rose 9.00 points and 2.05% in ChicagoThe Brazilian futures contract, quoted at US$ cents 447.50/bushel, saw a partial increase of 1.82% for the week. The December contract advanced by the same amount, to US$ cents 469.50/bushel – a weekly gain of 1.84%.
Wheat
The September wheat contract traded in CBOT It jumped 32.50 points and 5.04%, trading at US$ cents 677.50/bushel. Kansas City Bank Exchange (KCBT)Meanwhile, the contract expiring in the same month rose 42.00 points and 6.19%, to US$ cents 720.00/bushel. For the week as a whole, the contracts have accumulated gains of 5.82% and 6.47%, respectively.
Market fundamentals
In this trading session, the wheat market was boosted by the prospect of a sharp reduction in US production for the 2026/27 crop. According to… United States Department of Agriculture (USDA)The country's production is expected to reach 1.54 billion bushels, compared to 1.99 billion bushels in the previous season. If confirmed, this will be the smallest US harvest since the 1970/71 cycle. Logistical difficulties caused by the intensification of the conflict between Russia and Ukraine also supported prices. Navigation in the Sea of Azov, an important corridor for Russian grain exports, remains hampered after new attacks in the region. In Europe, the French Ministry of Agriculture estimated soft wheat production at 32 million tons in the 2026 harvest, a volume 4% lower than last year and 2% below the average of the last five years. On the demand side, the Taiwan Flour Mills Association acquired approximately 98,150 tons of US wheat in an auction held this Wednesday. Meanwhile, the soybean and corn markets were supported by the forecast of intense heat over the Corn Belt, the main US producing region. The USDA reported that hot, dry weather is accelerating crop development, although it is also raising concerns about potential impacts on productivity if high temperatures persist. According to the agency, less than 20% of the Midwest and Mississippi Valley areas had surface soil moisture classified as "low" to "very low" on July 12, indicating that, for now, growing conditions remain predominantly favorable. Soybeans also received additional support after… National Association of Oilseed Processors (NOPA) to report that crushing in the United States reached 5.83 million tons in June, above market expectations of 5.55 million tons. The volume represents a 16% increase compared to June 2025 and sets a new record for the month. On the radar, investors are awaiting the release, this Thursday (16), of the weekly export sales report of USDA, as well as updates on drought areas in the US.
This text was translated by machine from Brazilian Portuguese.