The July soybean contract traded on Chicago Stock Exchange (CBOT) closed this Tuesday (23) with a slight increase of 1.25 points and 0.11%, quoted at US$ cents 1,117.00/bushel; the August contract rose 1.50 points and 0.13%, to US$ cents 1,124.00/bushel. In the case of derivatives, the bran It rose 1.03%, while the oil It fell 0.79%. In this trading session, the market found support in a technical adjustment movement, considering the losses in the previous session, while investors continued to assess the weather outlook for the Corn Belt, the main soybean and corn producing region of the United States. According to the daily bulletin of U.S. Department of Agriculture (USDA)Rain has returned to the western portion of the agricultural belt, from the Dakotas southward. In other areas of the Midwest, cool and dry weather conditions prevail, considered largely favorable for crop development. Data from USDAData collected up to June 21st shows that planting of the 2026/27 soybean crop has been completed in the country. Of the total sown area, 93% has already reached the emergence phase and 9% has already entered flowering. Regarding crop quality, 66% of the area was classified as good or excellent, a percentage stable compared to the previous week. In addition to current field conditions, agents also monitored medium- and long-term climate projections. United States National Oceanic and Atmospheric Administration (NOAA) The development of the El Niño phenomenon has been confirmed, and a high probability of strengthening over the coming months has been indicated. Projections point to significant changes in North American weather patterns, including higher temperatures in parts of the Midwest, reduced rainfall in some agricultural areas, and less snowfall in the Northern Plains. On the other hand, regions of the southern US and the Gulf Coast may face more intense rainfall and a risk of flooding. For the agricultural market, the potential impacts vary by region. Some corn and soybean growing areas in the Midwest may benefit from favorable conditions for crop development, which could lead to an increase in the global supply of grains.
This text was translated by machine from Brazilian Portuguese.