At 10:15 am (Brasilia time) this Thursday (2), the September corn contract traded on Chicago Stock Exchange (CBOT) The price of corn registered a slight increase of 1.25 points and 0.30%, quoted at US$ cents 424.00/bushel; the December contract rose 0.75 points and 0.17%, to US$ cents 443.00/bushel. For the week, futures accumulated gains of 0.53% and 0.34%, respectively. Yesterday (1st), the July contract rose 1.44%, to US$ cents 422.75/bushel, and the September contract advanced 1.43%, to US$ cents 442.25/bushel. This morning, cereal prices extended the gains recorded in the last two days, still supported by the smaller planted area in the United States in the 2026/27 crop and the increase in temperature in the Corn Belt. As announced two days ago (30) by the Department of Agriculture (USDA), US producers planted 38.57 million hectares with corn this season, a 3% reduction compared to the previous cycle. The planted area decreased or remained unchanged in 40 of the 48 states considered in the survey. The USDA also estimates that, of the total corn area, only 35.37 million hectares will be harvested, a 4% decrease compared to the 2025/26 cycle. Attention is now focused on the phenological development of the crops. A survey conducted until last Sunday (28) by the USDA shows that 9% of the crops have already reached the silking stage, a pace ahead of that recorded in the previous season (7%) and the average of the last five years (6%). Weekly progress was 4 percentage points. Regarding crop conditions, 67% were classified as good/excellent – a decrease of 1 percentage point compared to the previous week and below the 73% of the last season. Of the remainder, 25% were rated as fair and 8% as poor/very poor. New information from the National Weather Service (NWS) shows that heat waves continue to affect eastern Kansas to the Atlantic Ocean and from Minnesota to central Alabama. The forecast is for temperatures to reach 40.5°C in Illinois this Thursday. The USDA recently released data showing that net corn sales for delivery in the 2025/26 marketing year totaled 732,100 tons in the week ending June 25, a 2% decrease compared to the previous week and 23% below the average of the last four weeks. Sales for delivery in 2026/27 totaled 767,800 tons last week. The dollar weakened against major global currencies, with the DXY down 0.60% this morning. However, further gains were limited by the decline in oil prices in the international market, as negotiations between the US and Iran progress towards a definitive peace agreement for the conflict in the Middle East. On the radar, the winter crop harvest in the Center-South of Brazil is approaching 20% of the cultivated area, according to the most recent report from DATAGRO Grãos. In Argentina, local agricultural entities indicate that the 2025/26 crop harvest has just over half of the cultivated area.
This text was translated by machine from Brazilian Portuguese.