At 10:00 AM (Brasilia time) this Friday (31), the September corn contract traded on the Chicago Board of Trade (CBOT) showed a moderate decrease of 3.00 points and 0.67%, trading at US$ cents 442.75/bushel; the December contract fell 3.25 points and 0.69%, to US$ cents 465.25/bushel. In the partial week, futures have accumulated losses of more than 4%; in the month of July, a gain of more than 6%. Yesterday (30), the September contract fell 0.72%, to US$ cents 445.75/bushel, while the December contract retreated 0.69%, to US$ cents 468.50/bushel. Cereal prices continued on a downward trajectory this morning, pressured by more favorable weather for the development of North American crops. The daily bulletin from the United States Department of Agriculture (USDA) indicates that "beneficial rains recorded from the Mississippi Valley westward are helping to stabilize crop conditions, which had deteriorated during the recent period of heat and dry weather." Also weighing on prices was the increased supply in South America. The winter crop harvest in Brazil has surpassed 60% of the cultivated area in the Center-South of the country, with good yields in Mato Grosso, the main producing state. In Argentina, the 2025/26 harvest is 70% complete, with local entities pointing to a record production of more than 65 million tons. However, greater losses were limited by the rise in oil prices on the international market and by strong domestic and international demand for US corn. Earlier this week, the Energy Information Administration (EIA) reported that US ethanol production hit the second highest level ever recorded in the week ending July 24. The USDA, in turn, reported export sales for the 2026/27 marketing year above investor expectations.
This text was translated by machine from Brazilian Portuguese.