Southern Brazil wheat crop on alert

TF Agroeconômica warned that the wheat market in Rio Grande do Sul has entered a state of "alert," due to increased rainfall and the deterioration of the quality of the harvested grains. According to the consultancy, accumulated volumes range between 30 and 80 mm, and the forecast is for unstable weather until at least November 6, which maintains uncertainties about the resumption of the harvest. Even with the advance in quotations in Chicago and Matif, the physical wheat market in Brazil remains unresponsive. TF Agroeconômica highlights that FOB Gulf premiums have declined due to weakness in exports and the advancement of winter wheat planting in the United States. In the domestic scenario, mills in Rio Grande do Sul are paying around R$ 1,100.00 per ton in the Serra and Metropolitan regions, but in the producing areas the value does not exceed R$ 1,000.00 FOB. At the Port of Rio Grande, wheat for export is quoted at R$ 1,170.00 on wheels, which would result in between R$ ...