The December/26 corn contract traded on Chicago Board of Trade (CBOT) Corn futures closed this Wednesday (2) with a slight decrease of 2.50 points and 0.46%, quoted at US$ cents 543.50/bushel; the March/27 contract fell 2.00 points and 0.36%, to US$ cents 558.25/bushel. After rising in 12 of the last 15 trading sessions, corn futures fell again in this session, with investors taking profits. However, market fundamentals remain positive for cereal prices. In its weather bulletin published today, the United States Department of Agriculture (USDA) pointed out that hot and dry weather has spread across the southern half of the Corn Belt, where today's maximum temperatures hit 38°C. According to the agency, the heat is helping to eliminate remaining pockets of excess moisture in the southern portion of the Midwest and accelerating the approach of corn and soybean crops to maturity. Meanwhile, rain showers and locally severe storms hitting the northern Corn Belt are mostly benefiting the still-developing summer crops. "However, overnight storms caused localized damage from strong winds and hail, from northern Nebraska and southern South Dakota to parts of Wisconsin," the USDA points out. The department's latest survey, based on data collected up to Sunday (30), shows that 57% of corn crops are classified as good/excellent, 12 pp below that recorded in the same period of 2025. Another 26% are in fair condition and 17% were rated as poor/very poor. After starting the day falling, oil prices gained strength in the international market amid escalating tensions in the Middle East. Tomorrow (3), the USDA will publish export sales records for the week ending August 27. The completion of the winter corn harvest in the Center-South of Brazil remains on the radar. A survey conducted by DATAGRO Grãos until last Friday (28) shows that the work has exceeded 95%, while the planting of the 2026/27 summer crop has already begun punctually in the South of the country. In Argentina, the harvest of the 2025/26 season is approaching 90%, with local agricultural entities projecting a record volume of production, despite the delay caused by the high humidity of the crops.
This text was translated by machine from Brazilian Portuguese.