The September corn contract traded on Chicago Board of Trade (CBOT) The futures contract closed this Friday (10) with a strong increase of 8.00 points and 1.85%, quoted at US$ cents 439.50/bushel. The December contract rose 9.00 points and 1.99%, to US$ cents 461.00/bushel. In the week, futures accumulated gains of 3.90% and 4.42%, respectively. In this trading session, the market reacted to the monthly supply and demand report (Wasde) for July, published by the United States Department of Agriculture (USDA), which showed tighter ending stocks in the North American country for both the 2025/26 and 2026/27 crop years. The USDA also cut its estimates for global ending stocks in both seasons and reduced its projection for world corn production in the 2026/27 crop year from 1.300 to 1.297 billion tons. Regarding the new North American crop, the USDA raised its production estimate from 406.29 to 406.42 million tons, representing a 6% decrease compared to the record 432.34 million tons harvested in the 2025/26 cycle, although it is the second-highest volume in the historical series. It is worth noting that the July WASD report does not yet include field research. Only from August onwards does the USDA begin to conduct this type of monitoring for its projections. The market also remained attentive to the weather forecast, as the first corn crops begin to enter the reproductive phase in the Corn Belt. The USDA's daily bulletin indicates that rain showers and storms are occurring mainly in the producing areas of the southern and western Corn Belt. Temperatures and soil moisture levels remain, for the most part, favorable for corn and soybean crops, with exceptions mainly related to excess moisture.
"Isolated areas of flash floods and sudden inundation extend from southeastern Missouri to the lower Ohio Valley, following heavy overnight rains that accumulated about 127 mm or more in some places," says the USDA.
For South America, WASD maintained its estimate for Brazil's 2025/26 corn crop at 138 million tons and raised Argentina's by 2 million tons, to 63 million tons. For the 2026/27 season, the department projects Brazilian corn production at 139 million tons and Argentinian production at 55 million tons. Oil prices fell in the international market, a factor that reduces the competitiveness of US corn-based ethanol. Meanwhile, the DXY – an index that compares the strength of the dollar against major global currencies – remained stable during the trading session.
This text was translated by machine from Brazilian Portuguese.