At 10:15 am (Brasilia time) this Friday (26), the July corn contract traded on Chicago Stock Exchange (CBOT) The September contract registered a drop of 2.25 points and 0.54%, quoted at US$ cents 412.50/bushel; the September contract retreated 1.75 points and 0.41%, to US$ cents 422.50/bushel. In the partial week, the futures accumulate losses of 1.20% and 0.65%, respectively. After rising more than 2% the previous day (25), corn futures fell again this morning, pressured by the drop of more than 3% in oil on the international market and by the good development of the 2026/27 crop in the Corn Belt. A survey carried out by the United States Department of Agriculture (USDA) until last Sunday (21) shows that the first crops have already reached the silking stage, at a faster pace than observed in the same period of the last season. Regarding conditions, 68% of crops were classified as good/excellent – the same percentage recorded the previous week and slightly below the 70% of last season. Of the remainder, 26% were rated as fair and 6% as poor/very poor. The Drought Monitor, released yesterday by the USDA, indicates that areas experiencing drought decreased last week to 22% of the total. Even so, the level is above the 16% observed in the same period last year. As for the weather forecast, according to maps from the National Weather Service (NWS), rain is expected in much of Iowa and Illinois over the weekend, although in some areas precipitation is expected to be excessive. Flood warnings and alerts are in effect from western Kansas to southern Ohio. Next Tuesday (30), the USDA will publish the annual planted area report and quarterly stocks as of June 1st. On the radar are the ongoing harvests in Brazil and Argentina, which should increase the competitiveness of these two countries in the international market in the coming months.
This text was translated by machine from Brazilian Portuguese.