Favorable weather in the US lowers corn futures prices in Chicago
Favorable weather conditions in the United States are putting pressure on corn futures prices on the Chicago Stock Exchange this Friday (05).
The futures contract for delivery in July closed down 1.65%, quoted at US$4.17 per bushel on the Chicago Stock Exchange. Corn ended the week with an accumulated decline of around 6.55%.
According to Granar, the market was also influenced by speculation and the continued downward movement observed throughout the week, with corn accumulating the sixth consecutive day of losses.
Crops remain in good condition in much of the US soybean and corn region, which reduces concerns in the short term. With the end of planting for the 2026/2027 harvest approaching, the market's focus is on the level of soil moisture, considered essential for the initial development of plants.
After rains recorded in the Great Plains and the western belt, precipitation advanced from west to east, reaching the main grain producing areas. Forecasts for the next 8 to 14 days indicate that above-average rainfall will continue in the central region.
Soy
Grain futures contracts ended this Friday's session (05) lower on the Chicago Stock Exchange. The soybean contract for delivery in July closed at US$11.21 per bushel, down 0.71%.
According to Agrinvest, the day was negative for soybean futures and other complex assets in future prices, with the market maintaining a downward trend since the release of the last harvest progress report.
The consultancy highlights that crop conditions remain very good, with no relevant risks in the short term. Furthermore, the climate projected for the next few days remains favorable for the development of soybean and corn crops, which reinforces the expectation that current conditions will be maintained in the next USDA (United States Department of Agriculture) report.
On the macroeconomic side, the sharp drop of more than 3% in oil prices also put pressure on the market, impacting soybean oil and contributing to the devaluation of the entire agricultural complex.
Wheat
On the Chicago Stock Exchange, the wheat futures contract for delivery in July fell 0.30% and closed the session at US$5.80 per bushel.
According to Granar, wheat prices increased their losses throughout the week, accumulating a drop of between 4.5% and 5% in North American markets.
The movement was influenced by the strong performance of investment funds, which carried out significant settlements of contracts throughout the period.
In addition, the advance of the winter harvest in the United States put pressure on prices, at a time of preparation for the intensification of work in the Northern Hemisphere. On the global stage, Russia is preparing for a harvest of more than 90 million tons, according to private sector estimates.
In the exchange rate field, the appreciation of the dollar also contributed to pressure on the American market, reducing the competitiveness of United States exports compared to European competitors.
Demand for pecan favors productivity recovery in 2025/26
Source: CNN