Brazilian imports for wheat increases YoY, as south region quotations downtrend due to local supply

According to Secex (Foreign Trade Secretariat), in June, Brazil imported 434.1 thousand tons of wheat, 7% less than that purchased in May, but 3.3% more than that imported in June/19. Of the total volume imported by Brazil last month, 79.6% came from Argentina, 13.8%, from the United States, 4.1%, from Uruguay, and 2.5%, from Paraguay. Imports price averaged 230.00 USD per ton, 3% higher than that in May/20, but 2.3% lower than that in June/19.

Wheat prices were weaker in some of the Brazilian regions surveyed by Cepea in the first fortnight of July, primarily in the wholesale market (trades between processors). Pressure came from the one-off increase in supply in the domestic market, since some sellers tried to sell the inventories remaining from last season. Besides, the mills in Paraná lowered bidding prices, due to the higher competitiveness of the wheat from Rio Grande do Sul.