The July corn contract traded on Chicago Board of Trade (CBOT) The futures contract closed this Friday (12) with a slight increase of 1.00 point and 0.24%, quoted at US$ cents 412.75/bushel; the September contract rose 0.75 point and 0.18%, to US$ cents 420.75/bushel. For the week, futures accumulated losses of 1.14% and 1.46%, respectively. After the release of the monthly supply and demand report the day before (11), which ended up driving down cereal prices, the market adjusted positions in this trading session and also reflected some climate concerns brought about by United States Department of Agriculture (USDA)In its daily weather bulletin, the USDA reported that yesterday's severe weather outbreak resulted in hundreds of reports of wind damage, primarily in northern and central Illinois and Indiana, but also extending to parts of neighboring states. "Today, remaining rainfall activity has shifted to the lower Midwest, while cooler, drier air moves over the rest of the Corn Belt. Most Midwestern summer crops have sufficient moisture for optimal development," the report states. USDAOn Monday (15), the department will report the updated weekly bulletin with the conditions and stages of North American crops. On the 30th of this month, the USDA The company publishes its annual planted area report, which should include a downward revision of corn-sown areas. Oil fell almost 4% in the international market, a factor that reduces the competitiveness of US corn-based ethanol. The DXY, an index that compares the strength of the dollar against major global currencies, traded near stability throughout the session.
This text was translated by machine from Brazilian Portuguese.