At 9:50 am (Brasilia time) this Monday (22), the July corn contract traded on Chicago Stock Exchange (CBOT) The July contract showed a slight drop of 2.25 points and 0.54%, quoted at US$ cents 415.25/bushel; the September contract retreated 1.50 points and 0.35%, to US$ cents 423.75/bushel. On Thursday (18), the July contract fell 0.83%, to US$ cents 417.50/bushel, and the September contract fell 0.99%, to US$ cents 425.25/bushel. Trading was suspended on Friday (19) due to the Juneteenth holiday. This morning, prices followed the downward trend of recent weeks, with the market pressured by the ample global supply of the cereal and keeping an eye on the development of the new crop in the United States. After the close of trading, the Department of Agriculture (USDA) will publish the weekly bulletins with the stages and conditions of the US crops. The latest update indicated that planting is already complete and more than 90% of the area is in the emergence phase; in addition, almost 70% of the crops showed good and excellent conditions, a sample in line with what was recorded in the last season. On the 30th, the USDA's annual planted area report will be released, which may provide some support to cereal prices, given the expectation of a smaller planted area than that reported in March in the annual planting intentions report. Shortly, the USDA will release the weekly export report, an important indicator of international demand for US corn. Regarding the weather, the daily alert from the National Weather Service (NWS) shows that storms and flash floods continue to hit important producing states such as Missouri, Illinois, and Indiana. In South America, the 2025/26 winter crop harvest is gaining momentum in Brazil, with production expected to reach 112 million tons, the second largest volume in history, behind only the last harvest, according to projections by DATAGRO Grãos. In Argentina, the 2025/26 harvest is approaching half of the cultivated area, with the USDA's less optimistic projection pointing to a harvest of 61 million tons. Local agricultural entities, such as the Buenos Aires Grain Exchange and the Rosario Stock Exchange, estimate production at 64 and 68 million tons, respectively.
This text was translated by machine from Brazilian Portuguese.