The September corn contract traded on Chicago Board of Trade (CBOT) The corn futures contract closed this Wednesday (1st) with a strong increase of 6.00 points and 1.44%, quoted at US$ cents 422.75/bushel; the December contract advanced 6.25 points and 1.43%, to US$ cents 442.25/bushel. For the week, futures accumulated gains of 0.24% and 0.17%, respectively. In this trading session, cereal prices continued the gains recorded the previous day (30), supported by the smaller planted area in the 2026/27 crop and the increase in temperatures in important producing states of the United States. As released yesterday by the Department of Agriculture (USDA), US producers sowed 38.57 million hectares with corn in the 2026/27 crop, a 3% reduction compared to the previous season. Compared to the last crop, the planted area decreased or remained unchanged in 40 of the 48 states considered in the survey. The USDA also estimates that, of the total corn area, only 35.37 million hectares will be harvested, a 4% decrease compared to the 2025/26 cycle. Regarding the weather, the USDA's daily bulletin indicates that rain showers and storms are restricted to the upper Midwest in the Corn Belt, where rainfall has largely benefited corn and soybean crops that faced drier-than-normal conditions in recent weeks. "In the rest of the belt, a very hot and dry climate predominates, although the region still presents, for the most part, abundant soil moisture reserves. Today's maximum temperatures should range between 32°C and 35°C," the department states. The National Weather Service (NWS) indicates that temperatures should exceed 42°C in southern Missouri and southern Illinois, and surpass 44°C in central Indiana by the end of the week. However, further gains were limited by the fall in oil prices on 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 higher throughout the session. On the radar were the second crop harvest in the Center-South of Brazil, as well as the progress of fieldwork in Argentina.
This text was translated by machine from Brazilian Portuguese.