Slow pace of wheat in the South

The wheat market in Southern Brazil continues at a slow pace, with sporadic negotiations and buyers and sellers in a holding pattern. According to TF Agroeconômica, in Rio Grande do Sul, common bread wheat available is being negotiated at R$ 1,330 FOB, but demand is weak, with mills still supplied until October. The new crop, which begins next month, does not attract interest, and it is estimated that around 90 thousand tons have already been negotiated, with 60 thousand destined for export and 30 thousand for local mills. Old crop stocks are expected to end in September, concentrating supply in the industries. In Santa Catarina, the first batches of new wheat are starting to appear, but production is expected to be 16.77% lower than the previous year. Despite the supply, prices paid to producers continue to fall, accumulating consecutive weekly declines. Currently, values range from R$ 72.00 to R$ 76.00 per sack, depending on the region, reflecting the pressure on wheat growers, ...