At 10:05 am (Brasilia time) this Monday (18), the July corn contract traded on Chicago Stock Exchange (CBOT) It showed a significant increase of 13.75 points and 3.02%, quoted at US$ cents 469.50/bushel; the September contract advanced 13.00 points and 2.81%, to US$ cents 476.00/bushel. On Friday (15), the July contract fell 2.51%, to US$ cents 455.75/bushel, ending the week with an accumulated devaluation of 3.29%; the September contract retreated 2.37%, to US$ cents 463.00/bushel, with an accumulated loss of 3.09% in the week. This morning, corn prices followed the grain market optimism after the White House announced that China will buy at least $17 billion worth of agricultural products annually until 2028. Although the Asian country is not a direct importer of US corn – as it is of soybeans – the negotiations with Beijing also include the resumption of poultry imports and the rehabilitation of more than 400 meat processing plants to export to the Chinese market, which could indirectly increase the demand for corn. Shortly, the US Department of Agriculture (USDA) will release its weekly export report; after the negotiations conclude, the bulletin with the updated stages and conditions of US crops will be released. In its daily weather bulletin, the USDA reported that rain showers and locally severe storms are extending to the southwestern Corn Belt from the upper Great Lakes region, slowing the pace of fieldwork. "Last night, storms spawned several tornadoes in northwestern Iowa and surrounding areas. Meanwhile, heavy rains are causing flash floods in the lower Missouri Valley, especially in northern and central Missouri," says the USDA. Also on the radar are the slowdown in the 2025/26 corn harvest in Argentina – given the prioritization of soybean crops – and the final development of the second crop in Brazil, which accounts for more than 80% of Brazil's corn supply.
This text was translated by machine from Brazilian Portuguese.