The September corn contract traded on Chicago Board of Trade (CBOT) The price of corn closed this Tuesday (7) with a strong increase of 5.50 points and 1.25%, quoted at US$ cents 443.75/bushel. The December contract rose 6.50 points and 1.42%, to US$ cents 464.25 /bushel. After starting the day close to stability, cereal prices ended up gaining strength, extending the gains of more than 3.5% recorded the previous day (6). Support was provided by the almost 3% increase in oil in the international market, a factor that increases the competitiveness of North American ethanol produced from corn. The generalized gain in the grain complex also provided support due to some climate concerns and speculation about Chinese demand, while the market remained attentive to the development of corn crops in the Corn Belt. A survey conducted by the United States Department of Agriculture (USDA) up to Sunday (5) shows that 16% of the total sown area has already reached the silking stage, a pace practically in line with the previous season (17%) and slightly above the average of the last five years (14%). In addition, 3% is already in the silking stage. As for crop conditions, 67% were classified as good/excellent – stable compared to the previous week, but below the 74% of the last season. Of the remainder, 25% were rated as fair and 8% as poor/very poor. Yesterday's weekly USDA report also had repercussions, indicating corn shipments above expectations in the week ending July 2. However, greater gains were limited by the strengthening of the dollar against the main global currencies, with the DXY operating slightly higher throughout the day. On the radar, the winter crop harvest in the Center-South of Brazil, which already exceeds a quarter of the cultivated area. DATAGRO Grains expects a harvest of 112.3 million tons, a volume 5% lower compared to the previous season. In Argentina, the pace of harvesting the 2025/26 crop remains slow, impacted by the high soil moisture of the fields and grains.
This text was translated by machine from Brazilian Portuguese.