American market

Corn and wheat prices in Chicago recorded a new decline yesterday. July corn contract returns to below $4.45/bu, at the lowest since last February 20th. In the new harvest, sowing is accelerating and now exceeds 93% of the projected areas. The first ratings of the corn condition are displayed at 67% in a "good to excellent", a slight decrease compared to last year. The prices of the December 2026 contract are also moving downwards and are returning during the session to the lowest levels since the beginning of March. In wheat, the first winter wheat cuts continue, with just 5% of the harvested areas to date, with disappointments on yields confirmed. In spring wheat, the crop conditions are slightly deteriorating compared to last week with 47% of the crops in a "good to excellent" condition compared to 50% last year at the same period. On the July 2026 contract, the SRW wheat contract fell below $6.10/bu and the HRW wheat returned yesterday under $6.50/bu.
The downward movement has also affected soybean with prices back to the $11.80/bu area on the July 2026 contract. In the new harvest, the sowing has accelerated with now 87% of the projected areas done. The condition of the crops is judged "good to excellent" for 66% of the areas, a level slightly lower than last year. The prices of soybeans in new harvest fell slightly below the level of $11.90/bu. Soybean oil prices remain firm, marking new highs by closing the session above c$79/lb for the July 2026 contract. The upward movement is similar on the following contracts even if prices remain lower, like the December 2026 contract which now comes to test the 74 c$/lb area.
In parallel with the evolution of energy prices, operators also remain very attentive to weather models. Rains are thus hoped for by the weekend on the plains of the Midwest.