The July wheat contract traded in Chicago Board of Trade (CBOT) It closed this Wednesday (24) with a slight decrease of 1.00 point and 0.17%, quoted at US$ cents 585.75/bushel. In Kansas City Bank Exchange (KCBT)The contract for the same month fell by the same amount, to US$ cents 617.25/bushel. In the weekly partial results, the contracts fell 3.30% and 4.15%, respectively. In this trading session, prices were pressured by the fall in the grain complex in the United States markets, as the advance of the global dollar, with a 0.20% increase in the DXY, and the devaluation of oil in the international market, contributed to the downward bias. Regarding the weather in the Plains region, the daily bulletin of… U.S. Department of Agriculture (USDA) The report stated that weather instability persists from Nebraska southward. “Despite recent and ongoing rains, the remaining impacts of the drought include an unusually accelerated harvest pace for the winter wheat crop — which is performing below average — and poor conditions in natural and cultivated pasture areas,” the document says. Meanwhile, market participants remain attentive to the potential damage caused by the heat wave in Europe, which could reduce the participation of these market players and favor North American wheat. Meanwhile, the Russian agricultural consultancy, Sovecon, reduced its forecast for the 2026 Russian wheat crop to 88.9 million tons, from 90.3 million tons, after a cut in its planted area estimate, estimated to be the lowest in 12 years. For tomorrow (25), market attention turns to the weekly export sales report of USDAwhich could offer new clues about the pace of international demand for US wheat.
This text was translated by machine from Brazilian Portuguese.