The December wheat contract traded in Chicago Board of Trade (CBOT) It closed this Wednesday (2) with a sharp drop of 8.50 points and 1.09%, quoted at US$ cents 774.00/bushel, with an accumulated decline in the partial week of 1.28%. In Kansas City Bank Exchange (KCBT)Meanwhile, the contract for the same month fell 11.00 points and 1.30%, to US$ cents 834.25/bushel – with a weekly devaluation of 1.18%. In this trading session, prices for the North American grain were pressured by a profit-taking movement, given the rise in prices in recent days. The wheat contracts in Chicago had reached their highest point since February 2023The recent increase in grain contracts was caused, especially, by geopolitical crisis between Russia and Ukraine in Black Sea regionFollowing a series of attacks from both countries, Russian exporters and Ukrainians they had to suspend port activities and the Maritime flow of agricultural shipmentsTo resolve the worsening conflict in East Europeanthe government of Türkiye organized a summit with the Russian president, Vladimir PutinThe President of Türkiye, Tayyip Erdogan, stated that it is necessary a mechanism to permanently guarantee security Regarding commercial shipping in the Black Sea, before a grain crisis worsens. Climate in US agriculture, according to the bulletin of U.S. Department of Agriculture (USDA), in the Plains, the hot weather and dry is favoring ripening and harvesting of summer crops. However, the heat and the lack of moisture in the soil They continue to cause significant stress in both natural and cultivated pasture areas. Regarding spring crop harvest, according to USDA Work has reached 77% of the cultivated area, a pace higher than the average observed in recent years for the period (68%). For Thursday (3), market agents await the weekly export sales data for USDAIn addition to providing updates on drought conditions in key producing regions of the U.S.
This text was translated by machine from Brazilian Portuguese.