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PT_BR 
Agricultural markets open under pressure this Friday. wheatgreater resistance in corn and additional support for the soyin an environment marked by geopolitical, climatic, and exchange rate factors. According to TF Agroeconômica, the most intense reaction occurred in wheat Following Vladimir Putin's statements about the possibility of a peace agreement with Ukraine, the perceived risk in the Black Sea was temporarily reduced.
On Euronext, wheat for December 2026 delivery reached €13.75 per ton before recovering some of its losses. The strengthening of the euro against the dollar also weighed on European wheat by reducing the competitiveness of exports. In Chicago, wheat experienced profit-taking after recent highs, reinforced by market sensitivity to news involving Russia and Ukraine.
International demand remains a point of attention. Saudi Arabia is holding a tender for the purchase of 535,000 tons of wheat, with delivery between November and December, as it seeks alternatives to Russian and Ukrainian volumes affected by restrictions and logistical difficulties.
In the corn market, the pressure was lower. The market finds support in expectations of a possible reduction in US production and in the hot, dry weather in the center of the country. Soybeans, on the other hand, are supported by the strength of oil prices and Chinese purchases. The USDA reported a new sale of 192,000 tons of US soybeans to China, relating to the 2026/27 crop.
The exchange rate also remains on the radar, with attention focused on the upcoming meetings of the European Central Bank and the Federal Reserve. Over the next few days, the direction of prices will depend on the balance between profit-taking and fundamentals such as weather, demand, exports, and the evolution of tensions in the Black Sea.
