The July corn contract traded on Chicago Board of Trade (CBOT) The price of corn closed this Tuesday (26) with a sharp drop of 5.75 points and 1.24%, quoted at US$ cents 457.50/bushel; the September contract fell 5.50 points and 1.17%, to US$ cents 464.25/bushel. In this trading session, cereal prices were pressured by the accelerated pace of planting for the 2026/27 crop and the prospect of good weather conditions in the Corn Belt for the development of already sown crops. "Soil moisture for corn and soybeans remains, for the most part, adequate to locally excessive. Some of the wetter conditions are present in the lower Midwest, including the Ohio Valley, where additional rains are occurring today," points out the United States Department of Agriculture (USDA), in its daily weather bulletin. Shortly, the USDA will release the updated weekly bulletin with the stages and conditions of the American crops. Earlier, the department reported that corn inspections for export totaled 1.582 million tons in the week ending May 21, a volume 13.0% higher than the previous week and 11.5% above that shipped in the same period last year. Market projections ranged from 1.100 to 1.700 million tons. Corn prices were also pressured by the strengthening of the dollar against major global currencies – with the DXY trading higher during negotiations – and the more than 2% drop in WTI oil in New York, a factor that reduces the competitiveness of US corn-based ethanol. On the radar is the prospect of ample supply in South America, with Brazil expected to begin harvesting its winter crop soon. In Argentina, the 2025/26 harvest has slowed in recent weeks due to the prioritization of soybeans, but expectations are for a record harvest, which should reach at least 64 million tons, according to local agricultural entities.
This text was translated by machine from Brazilian Portuguese.