Soybean prices fall in Chicago, pressured by oil and climate

On the Chicago Stock Exchange, soybeans ended this Thursday's session (21) falling, with the contract for delivery in July falling 0.81% and closing at US$ 11.9425 per bushel.

Granar highlighted that soybeans were unable to sustain mid-session gains and accumulated the third consecutive day of losses in Chicago, mainly pressured by the fall in oil.

According to Agrinvest, the soybean complex registered a decline again, highlighted by the strong pressure on soybean oil, influenced by the fall in oil prices. The weekly sales report from the USDA (United States Department of Agriculture) came within expectations for soybeans and meal, with no major surprises for the market.

The consultancy also highlights that trading companies significantly reduced purchases of Brazilian soybeans at destination, with a drop of 15 cents per bushel for shipments between July and September. At the same time, China's coverage for the 2026/27 window remains further advanced. The market is still monitoring the possibility of possible new Chinese purchases of soybeans from the United States.

On the fundamental side, the advance of the 2026/27 harvest and rain forecasts for the Great Plains and parts of the Midwest of the United States also contributed to the downward bias. On the other hand, the absence of new news about additional Chinese purchases, which had driven the highs earlier in the week, increases caution among grain market investors.

Corn

Corn futures maturities ended this Thursday's session in decline, with the contract for delivery in July falling 0.75% and priced at US$ 4.6225 per bushel.

According to Agrinvest, cereal futures fell on the CBOT due to uncertainties related to the geopolitical scenario, including tensions involving Iran, in addition to trade negotiations between the United States and China, which remain on the market's radar.

Granar highlights that corn recorded the third consecutive day of losses in Chicago, also pressured by weather conditions in the United States. Rain in the Central Great Plains helped alleviate drought in important areas such as Nebraska, where about 90% of the territory had been suffering from water deficits. The forecast of new precipitation in the Center-West, a region where forage planting is practically completed, also reinforced the bearish bias.

Another factor of attention is the absence of new confirmations about Chinese purchases, despite the recent announcement of an agreement that provides for minimum purchases of US$17 billion per year between 2026 and 2028.

Wheat

The wheat futures contract for delivery in July fell 1.97% and closed at US$6.4750 per bushel.

The market remains attentive to the climate behavior in the Great Plains of the United States, where recent rains have helped to alleviate drought conditions after months of drought and loss of vigor in crops. At the same time, investors continue to monitor the pace of development of the 2026/2027 harvest.

Wheat prices fell for the second day in a row in the United States, with contract sales intensifying in the absence of new news about Chinese demand. Also weighing on the market are climate conditions considered more favorable, with timely precipitation in spring growing areas in the north of the Great Plains, at a time when the planting of the new crop approaches the final stretch.

In the south of the country, the winter wheat harvest is already underway. Despite expectations of weaker results in some regions, the entry of new volumes into the market in the coming weeks also adds pressure to prices.

Source: CNN