At 9:53 am (Brasilia time) this Monday (29), the July soybean contract traded on Chicago Stock Exchange (CBOT) The futures contract was operating with a moderate decline of 8.50 points and 0.75%, quoted at US$ cents 1,117.75/bushel. The August contract retreated 8.75 points and 0.77%, to US$ cents 1,127.75/bushel. In the case of derivatives, the bran It fell 0.39%, while oil It showed an upward bias (+0.08%).
Corn
The July corn contract traded on CBOT It fell 8.00 points and 1.94%, quoted at US$ cents 404.75/bushel. The September contract fell by the same amount, to US$ cents 413.75/bushel.
Wheat
The July wheat futures contract traded in Chicago It lost 2.00 points and 0.35%, quoted at US$ cents 576.25/bushel. On the other hand, in Kansas City Bank Exchange (KCBT)Meanwhile, the grain was up 4.75 points and 0.78%, at US$ cents 615.75/bushel.
Market fundamentals
This morning, investors are still awaiting reports on planted area and inventories. United States Department of Agriculture (USDA), scheduled for tomorrow (30) and considered one of the main events on the grain market calendar. The prevailing expectation is that the department will revise downwards the estimate of area cultivated with corn and raise the projection for soybeans, reflecting a migration of some US producers from corn cultivation to oilseeds. In the field, the United States National Weather Service (NWS) The National Weather Service (NWS) maintains extreme heat warnings for much of the eastern and Midwestern United States. According to the agency, the warnings cover areas stretching from northern Minnesota to the Gulf Coast and from north-central Kansas to eastern Ohio. Almost the entire state of Iowa will remain under an extreme heat warning on Monday and Tuesday. Temperatures in northern Indiana and southern Michigan could reach 40.5°C during the day, while nighttime lows are expected to remain near 21°C, offering little relief to crops. "Heat-related illnesses increase significantly during extreme heat and high humidity events," the NWS warned. Part of the losses, however, was limited by the devaluation of the dollar against major global currencies, with a 0.12% decline in the DXY index, a factor that increases the competitiveness of US exports. The appreciation of oil also supported the grain and oilseed complex, increasing the competitiveness of biofuels. Also on Monday, the USDA It will release weekly shipping data, as well as updates on the conditions and development stages of North American crops.
This text was translated by machine from Brazilian Portuguese.