Wheat in the South remains stalled awaiting the new harvest

The wheat market in Brazil continues in a state of anticipation, with different scenarios among the southern states. According to TF Agroeconômica, in Rio Grande do Sul the pace remains calm, with limited negotiations and buyers maintaining a cautious stance due to the proximity of the new harvest, expected for October. Common bread wheat currently available is priced at R$ 1,330 FOB, but demand remains weak and short-term. Mills are supplied until October and indicate prices around R$ 1,250, against requests of R$ 1,300 in the interior. Bleaching wheat, in the Lagoa Vermelha region, is offered at R$ 1,650 FOB. It is estimated that in September the old crop stocks will end in the hands of the storage companies, being fully under the control of the mills. So far, around 90 thousand tons have already been negotiated, with 60 thousand destined for export and 30 thousand for the mills, but the new crop market has not yet taken off. Exports for December are offered at R$ 1,250.00, with ...