The September wheat contract traded in Chicago Board of Trade (CBOT) It closed this Wednesday (5) with a strong increase of 3.75 points and 0.59%, quoted at US$ cents 642.25/bushel, with a gain in the partial week of 0.47%. In Kansas City Bank Exchange (KCBT)The futures contract for the same month advanced 6.50 points and 0.92%, to US$ cents 713.50/bushel. In this trading session, prices were supported by concerns about global supply, given the difficulties in grain exports through the Black Sea region, amidst the ongoing conflict between Russia and Ukraine. The Ukrainian Minister of Agriculture stated that alternative export routes will not have sufficient capacity before the end of August and should operate with only about half the volume normally shipped from ports affected by Russian attacks. In the United States, on the other hand, weather conditions favored crop development. According to the daily bulletin of Department of Agriculture (USDA)A mass of cooler air moved over the Great Plains, reaching the state of Kansas. "Below-average temperatures, accompanied by isolated rains in the central Plains, are benefiting developing summer crops that have been suffering from stress due to recent heat and drought," he highlighted. USDAOn the radar, investors are awaiting the release, this Thursday (6), of the weekly export sales report and the update on drought conditions in US crops, both published by USDA.
This text was translated by machine from Brazilian Portuguese.