Wheat prices rose sharply in the US on Tuesday morning.

At 9:53 am (Brasilia time) this Tuesday (12), the July wheat contract traded on Chicago Board of Trade (CBOT) It was registering a strong increase of 6.50 points and 1.01%, quoted at US$ cents 634.50/bushel. Kansas City Bank Exchange (KCBT)The same month's contract advanced 10.25 points and 1.48%, to US$ cents 684.25/bushel. On the previous day (11), the wheat contract rose 2.42% in CBOT, at US$ cents 634.00/bushel. In KCBTThe cereal registered an advance of 1.55%, to US$ cents 686.25/bushel. This morning, cereal prices were driven by… worsening conditions for wheat crops in the United Statesas well as by international demand for US grain is heating up.The day before, the U.S. Department of Agriculture (USDA) released its weekly report of farming conditions in the United StatesThe agency classified 28% of winter wheat crops as good or excellent, a drop of 3 percentage points compared to the previous week (31%) and the lowest rate since 2022. The market projection was that 32% of the crops would be in good/excellent condition; the data reinforces the analyses that… Recent rains have not been able to reverse the damage to crops previously affected by the drought.Regarding exports, as announced yesterday by USDA, US farmers shipped 511,000 tons of grain in the week ending May 7. This volume exceeded market projections of between 300,000 and 450,000 tons. Regarding the weather, the… US National Weather Service issued new warnings for risk of forest fires in agricultural areas Dakotas, Minnesota, Iowa and NebraskaOn the radar, investors are also awaiting the release at 1 PM of… Monthly report on global supply and demand (WASDE), which will provide the first production projection for the 2026/27 North American crop.

This text was translated by machine from Brazilian Portuguese.