Rains in the US cause a tumble in the price of grains

Soybean and corn prices saw significant declines on the Chicago Stock Exchange, with July soybean prices dropping by five dollars to $431 per ton, and even larger losses for August and September positions. This drop is due to favorable weather conditions in U.S. agricultural areas, improved crop conditions, and the rapid wheat harvest progress. Additionally, China's demand for Brazilian soybeans and the strengthening dollar against the real influenced prices. Wheat and rapeseed prices also fell in the U.S. and Europe due to favorable harvest conditions and higher-than-expected yields in Russia. Conversely, rice prices in Brazil increased due to currency adjustments.

Soybean and corn prices suffered sharp falls on the Chicago Stock Exchange this Monday. The July soybean position lost five dollars and closed at US$ 431. The losses in the August and September positions were greater: US$ 6.3 and US$ 10.7 per ton. The latter with a price floor of US$ 403.35 per ton that has not been recorded since November 2020. The July 2025 position, for its part, fell from US$ 427 to US$ 419 per ton in the last two trading days. Local references moved this Monday around US$400 for soybeans from the current harvest and US$379/ton. for the grain of the next campaign, with premiums still high enough to establish positions. The rains in the agricultural areas of the United States at a key moment in the start of summer crops, together with the rapid advance of the wheat harvest, put downward pressure on prices and erased most of the gains of the last week. The improvement in the state of soybean and corn crops played its part, also with a bearish influence, against ...