High supply pressures wheat in the South

The progress of the harvest in the South has maintained the pace of wheat sales, while prices remain comfortable in the face of the ample regional supply, according to information from TF Agroeconômica. In Rio Grande do Sul, where the volume intended for export exceeds 700 thousand tons, a significant part has already been effectively committed. There is also constant movement from producers and storage operators, still below what is expected for this phase of the season, but sufficient to give fluidity to the domestic market. In the state, prices range between R$ 1,080 and R$ 1,150 at local mills. For milling wheat at the port, the indications are R$ 1,160 for December and R$ 1,180 for January. Wheat intended for feed appears at R$ 1,110 and R$ 1,115 for the same periods. The consultancy estimates that 1.2 million tons have already been negotiated, equivalent to 34.28% of the crop, with about 1.3 million left for the rest of the year. Of the total set aside for export, 344,927 ...