At 10:15 am (Brasilia time) this Monday (30), the July corn contract traded on Chicago Stock Exchange (CBOT) The price of corn futures was up 2.00 points and 0.50%, quoted at US$ cents 404.00/bushel; the September contract was stable, at US$ cents 410.25/bushel. In the partial month of June, futures have accumulated losses of almost 10%. Yesterday (29), the July contract fell 2.60%, to US$ cents 402.00/bushel; and the September contract retreated 2.73%, to US$ cents 410.25/bushel. This morning, the market adjusted positions before the publication of the annual planted area report from the United States Department of Agriculture, scheduled to be released at 1 pm. The document is expected to show a smaller planted area than the 38.58 million hectares indicated in March, in the planting intentions report. The development of the 2026/27 crop is being closely monitored by the market. A survey conducted until last Sunday (28) by the USDA shows that 9% of crops have already reached the silking stage, a pace ahead of that recorded in the previous season (7%) and the average of the last five years (6%). The weekly progress was 4 pp. As for crop conditions, 67% were classified as good/excellent – a drop of 1 pp compared to the previous week and below the 73% of the last season. Of the remainder, 25% were assessed as fair and 8% as poor/very poor. The US National Weather Service (NWS) forecast indicates that extreme heat warnings remain in effect for a large part of the American Midwest, extending from central Kansas to the Atlantic coast and from northern Michigan to the Gulf of Mexico. On Tuesday, temperatures are expected to hit 38ºC in Iowa and exceed 40ºC in southern Minnesota. In the next three days, they are expected to reach 41ºC in northern Illinois and Indiana. Also providing some support to prices was the weekly increase in corn inspections for export, which totaled 1.79 million tons in the week ending June 25, compared to 1.47 million tons in the previous week, as reported the day before by the USDA. Later, the department will also publish the quarterly stocks report as of June 1. The second corn crop harvest in Brazil remains on the radar, as well as the progress of fieldwork in Argentina.
This text was translated by machine from Brazilian Portuguese.