At 9:43 am (Brasilia time) this Thursday (9), the August soybean contract traded on the Chicago Board of Trade (CBOT) showed a moderate decrease of 10.50 points and 0.88%, quoted at US$ cents 1,182.75/bushel. The September contract fell 10.00 points and 0.84%, to US$ cents 1,173.50/bushel. In the partial week, on the other hand, futures accumulate gains of 4.09% and 3.30%, respectively. As for derivatives, oil fell 0.52%, while meal rose 0.29%. This morning, the market was taking profits, given the sequence of increases noted at the beginning of this week. Also weighing on oilseed prices are the weather conditions affecting the development of the 2026/27 crop in the Corn Belt, whose crops are beginning to enter the reproductive phase. The daily bulletin from the United States Department of Agriculture (USDA) shows that "temperatures and soil moisture levels remain, for the most part, favorable for summer crops in the Corn Belt." Rainfall is scattered across the Midwest, with the heaviest rainfall recorded earlier today in parts of Missouri. On July 5th, topsoil moisture in agricultural regions was rated 17% above normal in Missouri, with even higher levels in Iowa (18%), Indiana (22%), Illinois (26%), and Michigan (27%). Limiting further losses, international demand remains strong for US soybeans. Earlier, the USDA reported that US exporters made two separate sales of soybeans, one of 136,000 tons to China and another of 120,000 tons to an unknown destination. Both are scheduled for delivery in the 2026/27 marketing year. The Department also published export sales records for the week ending July 2, indicating that 54,300 tons of soybeans were traded for delivery in 2025/26, a volume 30% higher than the previous week, and 408,300 tons for shipment in 2026/27.
Corn
The September corn contract traded in Chicago fell 4.25 points and 0.98%, quoted at US$ 430.75 cents/bushel; the December contract fell 5.00 points and 1.10%, to US$ 451.25 cents/bushel. For the week, the contracts accumulated gains of 1.83% and 2.21%, respectively. The corn market is also taking profits, considering the gains recorded since the 30th, when the USDA confirmed a 3% smaller planted area for the 2026/27 crop. Also weighing on grain prices are the good weather conditions in the Corn Belt and the almost 1% devaluation of oil in the international market, despite the resumption of attacks between the United States and Iran in the Middle East. The devaluation of fossil fuels reduces the competitiveness of US ethanol produced from corn. Net sales for the week ending July 2nd totaled 565,800 tons for export in the 2025/26 marketing year and 401,700 tons for shipment in 2026/27 – both performances fell short of market expectations. On the corn market's 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.
Wheat
The September wheat contract traded on the CBOT registered a slight increase of 1.25 points and 0.21%, quoted at US$ 609.00 cents/bushel, with an accumulated weekly gain of 1.54%. On the Kansas City Board of Trade (KCBT), the same month's contract for the cereal rose 1.75 points and 0.27%, to US$ 647.00 cents/bushel, with a weekly increase of 1.33%. The wheat market remains attentive to the winter crop harvest, which is approaching its final third, and to the development of spring crops. Regarding weather conditions, the daily USDA bulletin indicates that, in the Plains, unstable weather with showers predominates up to northern Oklahoma. However, hot and dry weather persists in the Southern Plains, where today's maximum temperatures are expected to approach or reach 38°C. "Northern Plains producers have been facing favorable weather conditions at the moment, but are already preparing for a heat wave that should peak on Sunday (12)," says the USDA. Sales for the week ending July 2 totaled 313,100 tons for export in the 2026/27 marketing year, a volume in line with market expectations. Tomorrow (10), the USDA will publish the July supply and demand report.
This text was translated by machine from Brazilian Portuguese.