Southern Brazil wheat market faces challenges and slowdowns

The wheat market in the southern states of Brazil is facing a near-stagnant trade, with buyers and sellers adopting cautious stances. TF Agroeconômica's analysis reveals that low demand and pricing difficulties are common challenges in Santa Catarina, Paraná and Rio Grande do Sul, where the supply of Argentine wheat at the port of Rio Grande contributes to the slow pace of negotiations. In Rio Grande do Sul, sales for withdrawal between December and January remain at a standstill. Sellers close to the port or with access to rail transportation prioritize the standard milling wheat channel, estimating sales of around 520 thousand tons. However, indications from buyers remain timid, with values around R$1,300.00 per ton in the Serra region for shipments scheduled for January and February, with payment in March. Mills in the center of the state, on the other hand, indicate prices of around R$1,250.00. Despite the remaining supply of 1.845 million tons, the volume is insufficient to ...