According to information from TF Agroeconômica, wheat opened the day with a slight increase in Chicago, driven by the poor conditions of spring crops in the northern Great Plains of the United States and by excess humidity in the south of the country, which could delay the harvest of winter varieties. However, the increase is limited by the good production outlook in the European Union, in the Black Sea region and by the high stocks in Australia.

In the domestic market, wheat from Paraná fell 0.13%, quoted at R$1,536.04, while in Rio Grande do Sul it fell 0.60%, to R$1,354.45. In neighboring markets, Argentine wheat FOB July is between US$228 and US$232, soybeans in Asunción rose to US$352.46 and corn in Paraguay is traded at US$165 in San Pedro and US$180 in Western Paraná.

“Wheat is trading slightly higher in the American markets, influenced by the poor conditions of the spring wheat crops in the northern Great Plains and the forecast of excessive humidity for the southern United States, which could slow down the pace of the harvest of winter varieties,” he comments.

Soybeans are trading slightly lower in Chicago, pressured by the devaluation of oil and the lack of news to stimulate demand, especially from the biofuels industry. In addition, the start of the South American harvest and good weather conditions in the US are weighing on the market. Uncertainties about trade tariffs between the US and China are also increasing caution. In Brazil, a bag in Paraná is quoted at R$128.18, a drop of 0.24% on the day.

“In this context, soybeans are trading slightly lower this morning in Chicago, again pressured by the drop in the price of oil, which increases the negative reaction of traders to the lack of news to boost demand for this product from the biofuels industry,” he adds.

Corn prices are up slightly in Chicago, supported by the good pace of exports and concerns about excessive rain that could delay planting in the eastern part of the American agricultural belt. However, the Brazilian second-crop harvest, which begins in the coming weeks, should limit international gains. In the domestic market, corn remains under pressure, with the CEPEA price at R$69.17, down 0.36% on the day and a significant 13.68% in the month.

“Corn is trading slightly higher in Chicago, due to some small purchases on sale by investors after the recent declines. The good pace of exports 24/25 and the possibility that the initial planting program in the eastern end of the soybean/corn belt will not be completed due to excess moisture are supporting prices,” he concludes.

Source: Agrolink