The August soybean contract traded on Chicago Board of Trade (CBOT) The Brazilian futures contract closed this Thursday (23) with a slight increase of 4.50 points and 0.36%, quoted at US$ cents 1,237.50/bushel; the September contract advanced 5.00 points and 0.41%, to US$ cents 1,231.00/bushel. In the partial week, the maturities accumulate gains of 2.74% and 3.14%, in that order. As for derivatives, the oil It rose 0.15%, while the bran It depreciated by 0.51%.
Corn
The September corn contract finished with gains of 2.00 points and 0.43% in ChicagoThe Brazilian futures contract, quoted at US$ cents 464.00/bushel, showed a partial weekly gain of 4.33%. The December contract rose 2.75 points and 0.57%, to US$ cents 487.50/bushel – with a weekly gain of 4.28%.
Wheat
The September wheat contract traded in CBOT It fell 9.50 points and 1.35%, trading at US$ cents 696.25/bushel. Kansas City Bank Exchange (KCBT)The contract expiring in the same month depreciated by 3.75 points and 0.49%, to US$ cents 759.75/bushel. On the other hand, in the weekly comparison, the contracts accumulated gains of 1.98% and 3.76%, respectively.
Market fundamentals
In this trading session, soybean and corn assets received support from the significant increase in oil prices in the international market, with the type contract Brent above US$100 a barrel and WTI Prices rose above US$92 a barrel due to increased tensions in the Middle East between the United States and Iran. The appreciation of the energy commodity tends to benefit biofuels made from oilseeds and grains. Furthermore, concerns about warmer and drier weather in the Corn Belt, where US soybean and corn crops are located, also contributed to the price increase. According to the daily bulletin from… U.S. Department of Agriculture (USDA)The climate in the region is predominantly mild and largely dry. Occasional rain showers are limited to the southwest of the region. The drought is more pronounced in the western Corn Belt, an area that has also recorded higher temperatures in recent weeks compared to other parts of the Midwest. In the wheat market, investors engaged in profit-taking after prices surged in previous sessions due to concerns about global demand in light of the war between Russia and Ukraine. In US wheat fields, the intense heat has subsided, although today's maximum temperatures could still reach 38°C in areas extending north to southeastern Colorado and southwestern Kansas, said the USDAIn parts of the Central Plains, milder conditions are benefiting natural and cultivated pasture areas, as well as summer crops. “However, significant water stress persists in many areas; as of July 19, 75% of pastures in Colorado and 68% in Nebraska were classified as being in very poor to poor condition,” the document states. Furthermore, the USDA Today, the company reported the weekly export performance for the 2025/26 and 2026/27 crop years. For soybeans, 56,000 tons of the current crop and 1.537 million tons of the new crop were traded, both in line with market projections. For corn, the volume of 333,000 tons from the old crop came in below expectations, while the 702,000 tons from the new crop were in line with forecasts. Finally, wheat shipments from the 2026/27 cycle totaled 290,000 tons, in line with the market.
This text was translated by machine from Brazilian Portuguese.