At 10:00 AM (Brasilia time) this Thursday (30), the September corn contract traded on the Chicago Board of Trade (CBOT) showed a slight increase of 1.50 points and 0.33%, trading at US$ cents 450.50/bushel; the December contract rose 1.75 points and 0.37%, to US$ cents 473.50/bushel. In the partial week, on the other hand, futures accumulate losses of 2.96% and 2.87%, in this order. Yesterday (29), the September contract fell 2.07%, to US$ cents 449.00/bushel, while the December contract fell 1.82%, to US$ cents 471.75/bushel. This morning, the market adjusted positions, given the losses recorded earlier this week. In addition, it was supported by heated domestic demand for US corn for ethanol production. As reported yesterday by the Energy Information Administration (EIA), biofuel production in the United States in the week ending July 24 totaled 1.133 million barrels per day (bpd), a volume higher than that recorded in the previous week (1.094 million barrels) and the second highest level ever recorded, behind only the 1.196 million barrels produced in the seven days ending January 9 of this year. Regarding international demand, the USDA recently reported that corn export sales for the 2025/26 crop year totaled 362,900 tons in the week ending July 23, a volume 9% higher than the previous week, but 25% below the average of the last four weeks. For delivery in the 2026/27 marketing year, net sales totaled 1.062 million tons in the period, with notable purchases from Mexico and unknown destinations. Limiting further gains, the National Weather Service indicates the possibility of thunderstorms in parts of Iowa and other important corn-producing states this afternoon, which should alleviate the water stress observed in some areas. On the radar, the winter crop harvest in Brazil and the progress of work in Argentina.
This text was translated by machine from Brazilian Portuguese.