Wheat ends sharply lower in the US on Wednesday.

The July wheat contract traded in Chicago Board of Trade (CBOT) It closed this Wednesday (3) with a significant drop of 15.75 points and 2.61%, quoted at US$ cents 587.25/bushel. In  Kansas City Bank Exchange (KCBT)The contract expiring in the same month fell 10.75 points and 1.69%, to US$ cents 624.00/bushel. In the weekly breakdown, the assets have accumulated significant losses of 3.81%. CBOT and 3.96% in KCBTIn this trading session, cereal prices were pressured by… improved weather conditions in wheat-producing regions of the United States. According to the daily weather bulletin from U.S. Department of Agriculture (USDA)In the plains, widespread rains and storms continue to increase soil moisture for spring-sown crops and provide relief for drought-affected pastures and fields. In the countryside, according to data released yesterday by USDA87% of winter wheat crops have already reached the heading stage, a weekly increase of nine percentage points. At the same time last year, the rate was 83%, while the average for the last five years is 79%. Despite the progress in crop development, only 26% of the areas were classified as good or excellent, a percentage that remained stable compared to the previous week, but much lower than the 52% observed during the same period of the previous season. winter wheat harvest It also began to gain momentum, reaching 5% of the cultivated area, above the 3% recorded in the same period last year. In the case of spring wheatPlanting has reached 94% of the planned area, above the historical average of 89% and in line with the figure recorded a year ago. Furthermore, 72% of the crops have already emerged, exceeding the five-year average of 67%. On investors’ radar, the… USDA will release tomorrow (4) its weekly export sales report, an indicator that could provide new signals about the pace of international demand for US soybeans.

This text was translated by machine from Brazilian Portuguese.