At 10:10 am (Brasilia time) this Thursday (25), the July corn contract traded on Chicago Stock Exchange (CBOT) The July futures contract registered a drop of 2.50 points and 0.61%, quoted at US$ cents 404.50/bushel; the September contract fell 1.75 points and 0.42%, to US$ cents 414.00/bushel. For the week so far, futures have accumulated losses of 3.11% and 2.65%, respectively. Yesterday (24), the July contract fell 0.98%, to US$ cents 405.75/bushel, and the September contract fell 0.84%, to US$ cents 414.25/bushel. This morning, cereal prices continued their downward trajectory, pressured by the significant decline in oil prices on the international market, a factor that reduces the competitiveness of US ethanol produced from corn. With the gradual resumption of ship traffic through the Strait of Hormuz, fossil fuel prices have accumulated a loss of almost 9% this week. The decline in international demand was also putting pressure on prices. The United States Department of Agriculture (USDA) recently released data showing that corn export sales for the 2025/26 marketing year totaled 743,100 tons in the week ending June 18, a 36% decrease compared to the previous week and 27% below the average of the last four weeks. Net sales for delivery in the 2026/27 season totaled 735,900 tons during the period. The market continues to monitor the development of the 2026/27 corn crop in the Corn Belt. A survey conducted by the USDA up to last Sunday (21) shows that the first crops reached the silking stage, a faster pace than observed in the same period of the last season. As for crop conditions, 68% were classified as good/excellent – the same percentage recorded in the previous week and slightly below the 70% of the last season. Of the remainder, 26% were rated as average and 6% as poor/very poor. The ongoing harvests in Brazil and Argentina remain on the radar, 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.