Soybeans and corn are trading lower on the CBOT this Monday morning.

At 10:18 am (Brasilia time) this Monday (3), the September soybean contract traded on Chicago Stock Exchange (CBOT) The futures contract registered a moderate decline of 8.00 points and 0.68%, quoted at US$ cents 1,162.75/bushel. The November contract fell 7.75 points and 0.65%, to US$ cents 1,179.75/bushel. In the case of derivatives, the bran It depreciated by 0.60%, while the oil It was stable.

Corn

The September corn contract traded on CBOT The US futures contract fell 2.25 points and 0.51%, trading at US$ cents 438.50/bushel. The December contract lost 2.50 points and 0.54%, at US$ cents 461.50/bushel.

Wheat

The September wheat futures contract traded in Chicago It advanced 1.00 point and 0.16%, quoted at US$ cents 640.25/bushel. Meanwhile, Kansas City Bank Exchange (KCBT)Meanwhile, the grain was down 0.75 points and 0.11%, at US$ cents 706.75/bushel.

Market fundamentals

This morning, soybean and corn prices were pressured by the fall in oil prices on the international market, a factor that reduces the attractiveness of biofuels produced from oilseeds and cereals. In the geopolitical field, investors followed the developments of the conflict in the Middle East. The President of the United States, Donald Trump, stated on Sunday (2) that he had canceled an attack against Iran and that any eventual peace agreement would include the reopening of the Strait of Hormuz and the end of Iranian nuclear ambitions. On the other hand, the Iranian Foreign Minister declared that there are no ongoing negotiations with the United States, although he confirmed discussions about a new navigation route through the strait, according to Al Jazeera. In the climate scenario, the National Weather Service (NWS) Storms are expected across much of Iowa between Tuesday (4) and Wednesday (5). Rain showers are also expected in northern Illinois starting Wednesday, with precipitation moving eastward throughout the week and reaching central Indiana on Thursday (6). The rains should favor the development of soybean and corn crops that have been facing drought conditions in parts of the Corn Belt. In the wheat market, some prices found support in concerns about the intensification of fighting between Russia and Ukraine, which continues to threaten the flow of exports through the Black Sea. Traders are monitoring new drone and missile attacks against ports and vessels, a scenario that has already affected Ukrainian shipments and has also reduced the pace of Russian exports. Also on Monday, the U.S. Department of Agriculture (USDA) will release weekly export shipment data and updates on crop conditions and stages in the United States. Earlier, the USDA announced two separate sales of soybeans from the 2026/27 crop: 488,000 tons to China and 136,150 tons to an undisclosed destination, reinforcing the pace of international demand for the oilseed.

This text was translated by machine from Brazilian Portuguese.