Wheat prices surged on the CBOT and KCBT on Wednesday morning.

At 9:54 am (Brasilia time) this Wednesday (15), the August soybean contract traded on Chicago Board of Trade (CBOT) The Brazilian futures contract was trading with an upward bias (0.50 points and +0.04%), quoted at US$ cents 1,193.25/bushel. The September contract advanced 1.25 points and 0.11%, to US$ cents 1,182.50/bushel. So far this week, the assets have accumulated gains of 0.13% and 0.11%, respectively. As for derivatives, the… bran It was losing 0.13%, while the oil It showed stability. Later, the National Association of Oilseed Processors (NOPA) reports on soybean crushing in the United States in the month of June.

Corn

The September corn contract traded in Chicago The Brazilian futures contract rose 4.00 points and 0.91%, quoted at US$ cents 442.50/bushel, with a partial weekly gain of 0.68%. The December contract rose at the same rate, to US$ cents 464.50/bushel – a weekly increase of 0.76%.

Wheat

The September wheat contract traded in CBOT It advanced a significant 20.75 points and 3.22%, quoted at US$ cents 665.75/bushel. Kansas City Bank Exchange (KCBT)Meanwhile, the contract expiring in the same month rose 23.50 points and 3.50%, to US$ cents 701.75/bushel. So far this week, the assets have accumulated gains of almost 4.00%.

Market fundamentals

This morning, wheat led the gains after the United States Department of Agriculture (USDA) It is projected that US corn production in the 2026/27 crop year will be the lowest in more than five decades. According to the monthly supply and demand report, production is estimated at 1.54 billion bushels, compared to 1.99 billion bushels in the previous season. If confirmed, it will be the smallest harvest since the 1970/71 cycle. For soybeans and corn, the main supporting factor continues to be the forecast of intense heat over the Corn Belt, the main producing region of the United States. National Weather Service (NWS) The agency reported that high temperatures are expected to affect much of central and eastern Minnesota, as well as areas of western Wisconsin. According to the agency, heat indices could reach 38°C during the afternoon in both central Minnesota and parts of Wisconsin, increasing concerns about the development of crops in their reproductive phase. Another factor supporting the agricultural sector was the appreciation of oil in the international market. Commodity prices rose again after the US carried out new attacks against Iranian targets during the early morning hours. According to the US Central Command (Centcom), the operation aimed to "further degrade the military capabilities used by Iranian forces to attack merchant vessels in the Strait of Hormuz," again raising concerns about the global energy supply and reinforcing the attractiveness of biofuels produced from grains and oilseeds.

This text was translated by machine from Brazilian Portuguese.