At 10 am (Brasilia time) this Friday (10), the September corn contract traded on Chicago Stock Exchange (CBOT) The September futures contract showed a slight increase of 1.75 points and 0.41%, quoted at US$ cents 433.25/bushel; the December contract rose 1.75 points and 0.39%, to US$ cents 453.75/bushel. For the week, futures accumulated partial gains of 2.42% and 2.77%, respectively. Yesterday (9), the September contract fell 0.80%, to US$ cents 431.00/bushel, while the December contract fell 0.93%, to US$ cents 452.00/bushel. This morning, the market is operating more cautiously, awaiting the publication at 1 pm of the July supply and demand report (Wasde) by the United States Department of Agriculture (USDA). The document should provide a new projection for US corn production in the 2026/27 crop year, based on area data published by the USDA on the 30th. According to the department, US producers planted 38.57 million hectares with corn this season, a 3% reduction compared to the previous year. Despite the decline, this represents the fourth largest area planted with corn in the country since 1944. 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 crop year. It is worth noting that the July WASD report does not yet include field research. Only from August onwards does the USDA begin to conduct this type of monitoring for its estimates. The market remains attentive to the weather forecast, as the first corn crops begin to enter the reproductive phase in the Corn Belt. The general view is that the main producing states are experiencing higher-than-expected moisture conditions. The USDA indicates that more than two-thirds of the crops are in good or excellent condition, and 19% of the area is experiencing drought. Oil – which directly influences the competitiveness of US corn-based ethanol – was operating near stability, with the market still measuring the impact of the end of the ceasefire on energy flow through the Strait of Hormuz. On the radar are the progress of the winter crop harvest in the Center-South of Brazil and the slow pace of harvesting in Argentina, although production performances are better this year.
This text was translated by machine from Brazilian Portuguese.