Wheat ends in positive territory on the CBOT this Tuesday.

The July wheat contract traded in Chicago Board of Trade (CBOT) It closed this Tuesday (16) with a strong increase of 6.25 points and 1.06%, quoted at US$ cents 596.00/bushel. Already in Kansas City Bank Exchange (KCBT)The futures contract closed down 6.25 points and 0.98%, at US$ cents 633.75/bushel. In this trading session, the market found support in concerns about the weather in the producing areas of the North American Plains. According to the daily bulletin of… United States Department of Agriculture (USDA)The region continues to experience predominantly dry conditions and high temperatures. The agency highlighted that maximum temperatures are expected to exceed 32°C in parts of the producing areas, including regions of western South Dakota. Furthermore, the USDA The report stated that, as of June 14th, the winter wheat harvest had reached 75% of the area in Texas and 73% in Oklahoma. Despite the progress in fieldwork, crop quality continues to worry market participants. “The season is drawing to a close, with more than half of the winter wheat classified as very poor or poor across all producing states in the Central and Southern Plains, led by Nebraska with 86%,” the department highlighted. On the other hand, the sharp drop in international oil prices limited gains and contributed to pressure on some agricultural contracts.

This text was translated by machine from Brazilian Portuguese.