The July wheat contract traded in Chicago Board of Trade (CBOT) It hit the upper limit this Tuesday (12), at 45.00 points and 7.10%, quoted at US$ cents 679.00/bushel. In Kansas City Bank Exchange (KCBT)The expiration of the same contract also closed at the upper limit, advancing 45.00 points or 6.56%, to US$ cents 731.25/bushel. In this trading session, the market reacted to the new projections of United States Department of Agriculture (USDA) For the 2026/27 North American crop, expectations are tighter than anticipated by market participants. According to the report, ending wheat stocks in the US are expected to fall to 20.74 million tons in 2026/27, down from the 25.44 million tons projected for 2025/26. Globally, ending stocks for the 2025/26 season were estimated at 279.21 million tons, while for 2026/27… USDA The projected drop to 275.04 million tons. Furthermore, the department estimated US wheat production at only 42.49 million tons for the 2026/27 crop year, down from the 54.01 million tons projected for 2025/26. If confirmed, this would be the lowest US production in 54 years. The market also reacted to the worsening conditions of the country's winter wheat crops. USDA The report indicated that only 28% of the areas were classified as good or excellent, a drop of three percentage points compared to the previous week and the lowest rate since 2022. The market expectation was for 32% of the crops to be in this condition. The data reinforced the perception that recent rains were not sufficient to recover areas previously affected by drought in the main producing regions.
This text was translated by machine from Brazilian Portuguese.