Exports boost Brazil's wheat market

The wheat market in Brazil is showing a scenario of buoyant exports, especially in Rio Grande do Sul, where foreign sales are gaining momentum with shipments scheduled for February, while the local market continues at a slower pace. According to TF Agroeconômica, prices for standard milling wheat in the state are reaching R$1,300.00 per ton in Serra Gaúcha, with payment scheduled for March. In negotiations closer to the mills, prices were recorded at around R$1,250.00 FOB, with withdrawal scheduled for February. In the bleaching wheat segment, sellers are asking for at least R$1,550.00 FOB. The favorable exchange rate has been one of the main drivers of wheat exports, resulting in significant volumes traded. Milling wheat, intended for milling, was quoted between R$1,370.00 and R$1,400.00 for delivery between January and February, depending on payment conditions. Wheat for feed was negotiated for R$1,320.00, with settlement scheduled for the end of February. In addition, the ...