Agricultural Market - April 8, 2026

The international market is following the Chicago exchange and the conflict in the Middle East. Oil surpassed $115 per barrel. This movement increased fertilizer costs. Producers report expensive inputs and delayed purchases in Brazil. The commercialization of the new harvest has not reached 40%. Producers are waiting for the war to subside to alleviate costs. A scenario of stabilization could drive down oil, the dollar, and commodities.

Soybeans in Chicago are trading with support near $11,50 per bushel. This level shows weakness. Resistance has retreated to $11,80. The market has lost momentum compared to previous weeks. The environment indicates calm in the short term.

In the United States, planting has not yet begun. Cold weather dominates the producing belt. States like Minnesota and the Dakotas are experiencing low temperatures and snow is forecast. Frost is affecting several regions. Corn and sorghum planting is only progressing in the south. This delay is limiting movements in the global market.

In Brazil, the soybean harvest has reached 86%. Mato Grosso has practically finished harvesting at 99%. Paraná has reached 88%. Mato Grosso do Sul has reached 87%. Goiás has registered 82%. Bahia has reached 75%. Rondônia has reached 90%. Minas Gerais has reached 80%. Rio Grande do Sul remains at 35%. Production is projected at 180 million tons. The harvested volume totals 153 million tons.

Sales have reached 53% of the harvest. This figure is below last year's 58% and the average of 59%. Approximately 84 million tons remain in the hands of producers. April is a month with significant financial maturities, putting pressure on supply. Even so, business is progressing. The market is registering about 1 million tons traded per day this week.

Exports maintain a strong pace. In March, shipments totaled 14,5 million tons. The accumulated total for the year reaches 23,5 million tons. This volume represents a record for the period. Considering soybeans, soybean meal, and soybean oil, the total reaches 29,9 million tons. This result surpasses last year by almost 2 million tons. Foreign exchange earnings reached US$ 6,9 billion. The soybean complex leads the export agenda.

Corn situation

In the corn market, Chicago is showing stability. The May contract lost support at US$4,50 per bushel. The July contract is attempting to hold above US$5,00. Fundamentals are supporting long-term contracts. The market anticipates a reduction in planted area in the United States. Projections indicate a decrease of almost 1,5 million hectares. The planted area is expected to reach 38,5 million hectares, compared to 40 million hectares in the previous cycle.

American planting is progressing at 3%. The pace is slightly above last year's and the average. Texas leads with 59% of the area planted. Sorghum has 12% planted. The area is expected to decrease by about 10%. Lower American supply may open up opportunities for Brazilian exports. In Brazil, sorghum could reach 2,2 million hectares, up from the previous 1,6 million.

The second corn crop occupies approximately 17 million hectares. This number is below initial expectations. Production is projected at 105 million tons, compared to 113,3 million tons in the previous cycle. This scenario could support prices and favor sorghum.

Wheat situation

In the wheat market, Chicago is trading near US$6,00 per bushel in the short term. Longer-term contracts indicate US$6,50. In Brazil, mills are buying reduced volumes. Wheat from Rio Grande do Sul is around R$1.150 per ton. In Paraná, prices vary between R$1.250 and R$1.300. Producers report tight margins. The planting decision remains uncertain.

Imported wheat is projected to cost over R$1.500 per ton in the second half of the year. Brazilian exports totaled 447,4 tons in March, exceeding the same month last year. The year-to-date total reaches 1,055 million tons. Imports fell to 1,245 million tons, below the previous cycle.

In the United States, the quality of spring wheat is worsening. Crops classified as fair to poor reach 31%. Last year, the index was at 21%. Good and excellent areas fall to 35%, compared to 48% previously. This situation may support future prices.

Rice situation

In Brazil, the rice harvest has reached 58%. Rio Grande do Sul is at 60%, Santa Catarina at 85%, and Tocantins at 45%. Projected production totals 11,2 million tons, while the harvested volume is 6,5 million tons. Producers are holding back sales and waiting for better prices.

Exports totaled 701,2 tons in the first quarter. Imports totaled 426,5 tons. The positive balance reached 274,7 tons. The domestic market is adjusting prices. The five-kilogram package already exceeds R$ 10,00. Prices range from R$ 12,90 to R$ 30,00 depending on quality.

Bean situation

In the bean market, April begins with a slight recovery. The premium variety reaches between R$ 315 and R$ 350. The commercial variety ranges from R$ 280 to R$ 305. Packers resume purchases. Black beans remain stable. Prices fluctuate between R$ 150 and R$ 185. The market anticipates an increase in demand.