The July soybean contract traded on Chicago Stock Exchange (CBOT) The futures contract closed this Friday (15) with a sharp drop of 15.50 points and 1.30%, quoted at US$ cents 1,177.00/bushel; the July contract fell 13.25 points and 1.11%, to US$ cents 1,176.50/bushel. For the week, the assets accumulated losses of 2.57% and 2.18%, respectively. In the case of derivatives, on the other hand, the oil and the bran They appreciated by 0.30% and 0.54%, respectively. Earlier, the National Association of Oilseed Processors (NOPA)Soybean processing companies, which account for about 95% of the soybeans processed in the United States, reported that the country crushed 5.77 million tons of the oilseed in April – below the market projection of 5.82 million tons. Furthermore, the The U.S. Department of Agriculture (USDA) reported an individual sale of 155,000 tons of soybean meal to Italy.
Corn
The July corn contract traded on CBOT It fell 11.75 points and 2.51%, quoted at US$ cents 455.75/bushel, with a depreciation of 3.29% in the week; and the September contract retreated 11.25 points and 2.37%, to US$ cents 463.00/bushel – a loss of 3.09% in the week.
Wheat
The July wheat futures contract traded in Chicago It lost 22.25 points and 3.38%, quoted at US$ cents 635.75/bushel. Kansas City Bank Exchange (KCBT)The grain fell 17.25 points and 2.45%, to US$ cents 688.00/bushel. On the other hand, for the week, the assets appreciated 2.71% and 1.81%, respectively.
Market fundamentals
In this trading session, the grain market extended the losses observed the previous day (14), reflecting the conclusion of President Donald Trump's official visit to China without any relevant announcements for agricultural trade. After the meetings in Beijing, Trump stated that American farmers "will be satisfied" with the trade agreements and that China will buy "billions of dollars" in soybeans, without detailing new contracts or additional volumes. Despite the statements, investors considered the trip disappointing given the absence of official agreements. Another factor putting pressure on the market was the appreciation of the dollar against the main global currencies, with a 0.45% increase for the DXY, a movement that reduces the competitiveness of American agricultural exports. In the field, investors continue to monitor the progress of soybean and corn planting in the Corn Belt and the development of winter wheat crops. According to the daily climate bulletin from USDAThe advance of heat in the producing belt should favor the germination and development of newly planted crops. In the Great Plains, a wheat-producing region, the market is monitoring dust storms coming from the border with Canada, in addition to the high risk of forest fires caused by intense heat, drought, low humidity and strong winds. On the other hand, forecasts of rain in the coming days help to alleviate some of the concerns about the drought. Furthermore, investors remain attentive to the conflict between the US and Iran, which keeps the Strait of Hormuz closed and sustains volatility in oil prices. For Monday (18), the market awaits the weekly shipment data from USDA, as well as updates on the conditions and stages of North American crops.
This text was translated by machine from Brazilian Portuguese.