The September wheat contract traded in Chicago Board of Trade (CBOT) It closed this Monday (20) with a sharp drop of 8.75 points and 1.28%, quoted at US$ cents 674.00/bushel. In Kansas City Bank Exchange (KCBT)Meanwhile, the contract for the same month fell 8.50 points and 1.16%, to US$ cents 723.75/bushel. In this trading session, cereal prices were pressured by a profit-taking movement…considering the recent increases in US wheat prices last week. Furthermore, the strengthening of the dollar against major global currencies, with a 0.20% rise in the… DXY – which is detrimental to shipments from the States United – also contributed to the negative bias. However, greater losses were limited by adverse weather conditions in US crops and by conflict in Eastern Europewhich continues to hinder grain export logistics in the region of Black SeaAccording to the daily bulletin of U.S. Department of Agriculture (USDA), in the Plains, the hot weather and predominantly dry It is reducing soil moisture and increasing the stress in crops, especially in areas that are still facing drought. A heat wave It primarily affects the central and southern plains, extending north to the south of Dakota of SouthRegarding international demandthe USDA The U.S. released wheat shipment data on Monday for the week ending July 16. During that period, the U.S. exported 214,000 tons. The volume was in line with market projections of 200,000 to 300,000 tons. Investors remain attentive to the release of the USDA's weekly report on crop conditions and stages in the United States.
This text was translated by machine from Brazilian Portuguese.