At 10:19 am (Brasilia time) this Monday (6), the September wheat contract traded on Chicago Board of Trade (CBOT) It was trading sharply higher, up 10.50 points and 1.75%, quoted at US$ cents 610.25/bushel. Kansas City Bank Exchange (KCBT)The contract for the same month advanced 8.25 points and 1.29%, to US$ cents 646.75/bushel. In the last session (2), the cereal closed stable with a downward bias on the CBOT, at US$ cents 599.75/bushel, while it rose 0.55% on KCBT, at US$ cents 638.50/bushel. On Friday (3), trading was suspended on both exchanges due to the Independence Day holiday in the United States. This morning, cereal prices were supported by the general rise in United States agricultural commodities marketas well as by adverse weather conditions in the North American plains. According to the daily bulletin of U.S. Department of Agriculture (USDA), despite isolated rain showers being recorded in DakotasDuring the weekend, the rest of the Great Plains remained with hot weather and Quite sunny, affecting the wheat fields."Summer crops in the region are also showing signs of stress due to…" soil moisture shortage and to others persistent impacts of drought", stated the USDA. Later, the department will publish the weekly shipments report; after the close of negotiations in Chicago, the updated bulletin with the development stages and conditions of North American crops will be released. The week will also be marked by the release, on Friday (10), of the monthly supply and demand report.
This text was translated by machine from Brazilian Portuguese.