The month of August is marked by the devaluation and great domestic availability of wheat in Brazil

Wheat prices continued to fall in Brazil in August. In addition to the external devaluation of the cereal, the pressure on domestic values also came from the greater availability of wheat in the country, given the advance of the harvest and punctual demand. In fact, the monthly averages for August were the lowest since December 2019 in Paraná and São Paulo, in real terms (the values were deflated by the IGP-DI). In Paraná, the August average was R$1,262.39/t, a monthly drop of 6.1% and an annual drop of an impressive 36.5%. In São Paulo, the average was R$1,284.36 in August, with decreases of 5.3% compared to July and 37.3% compared to August 2022. In Santa Catarina, the average was R$ 1,378.38/ton, decreases of 3.5% in the month and 32.3% in one year, being the lowest since March 2020, in real terms (the values were deflated by the IGP-DI). In Rio Grande do Sul, the August average was R$1,282.88/ton, a drop of 2.2% compared to July and a significant 33.9% compared to August 2022. ...