At 9:45 am (Brasilia time) this Wednesday (27), the July corn contract traded on Chicago Stock Exchange (CBOT) The price showed a moderate decrease of 4.50 points and 0.98%, quoted at US$ cents 453.00/bushel; the September contract fell 3.75 points and 0.81%, to US$ cents 460.50/bushel. Yesterday (26), the July contract fell 1.24%, to US$ cents 457.50/bushel, and the September contract fell 1.17%, to US$ cents 464.25/bushel. This morning, cereal prices were pressured by the accelerated pace of planting of the 2026/27 crop in the Corn Belt and by favorable weather conditions for crop development. A survey conducted until Sunday (24) by the United States Department of Agriculture (USDA) shows that sowing reached 86% of the estimated area, a pace in line with that recorded at the same point in the previous cycle, but ahead of the average of the last five years (83%). Furthermore, 60% of the area has already reached the emergence phase, compared to 65% in the previous season and 58% in the multi-year average. The market is also reacting to corn inspections for export, which totaled 1.582 million tons in the week ending May 21, within analysts' projections, which ranged from 1.100 to 1.700 million tons. The volume is 13.0% higher than that recorded in the previous week and 11.5% above that shipped in the same period last year. 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 lost momentum in recent weeks due to the prioritization of soybeans, but the expectation is 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.