The September corn contract traded on Chicago Board of Trade (CBOT) The price of corn closed this Monday (3) with a strong increase of 8.50 points and 1.93%, quoted at US$ cents 449.25/bushel; the December contract advanced 8.50 points and 1.83%, to US$ cents 472.50/bushel. After starting the day lower, cereal prices ended up gaining strength, with the market adjusting positions, considering the losses recorded last week. Support was also provided by strong international demand for US corn. Earlier, the United States Department of Agriculture (USDA) reported that export inspections totaled 1.885 million tons in the week ending July 30, a volume 22.9% higher compared to the previous week and 31.1% above the weekly average needed to reach the total projected for the 2025/26 marketing year. Shortly, the USDA will publish the updated bulletin with the stages and conditions of US crops. Daily climate updates indicate that, following heavy rainfall last weekend, temperatures near or slightly below average are favoring the development of corn and soybean crops. "When the rains reached their peak intensity and extent at the end of last week, record accumulations were recorded for July 31, including 76.5 millimeters in Dubuque (Iowa), and 59.7 mm in Rochester (Minnesota). In Sisseton (South Dakota), the accumulated rainfall between July 30 and 31 reached 135.4 mm," states the USDA. Oil – which directly influences the competitiveness of US corn-based ethanol – fell more than 5% in the international market after US President Donald Trump suspended a planned attack against Iran, claiming that negotiations to end the ceasefire in the Middle East are underway. On the radar are the winter crop harvest in the Center-South of Brazil and the progress of fieldwork in Argentina – both are nearing completion, with positive production expectations.
This text was translated by machine from Brazilian Portuguese.