Wheat market in southern Brazil remains stagnant with few negotiations

Published 2024년 12월 17일

Tridge summary

The wheat market in southern Brazil is experiencing slow activity with modest expectations for early 2024. The local market in Rio Grande do Sul is effectively closed for 2024, with limited negotiations and varying prices. Cooperatives in Santa Catarina are receiving the last of the local harvest, and milling limits are restricting volume of deliveries. Paraná's market remains stagnant due to high raw material costs, with sellers asking for R$1,450.00 FOB and buyers asking for R$1,400.00 CIF, resulting in few transactions. Mills in Paraná are purchasing wheat from Paraguay, Rio Grande do Sul, and Argentina to ensure supply for the early weeks of 2024.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The wheat market in southern Brazil continues to be slow and expectations are moderate for early 2024, according to information from TF Agroeconômica. In the states of Rio Grande do Sul, Santa Catarina and Paraná, negotiations remain limited, while prices vary between regions. In Rio Grande do Sul, the local market is practically closed for 2024, with no new demands from mills during December. Offers for January and February are scarce, with buyers offering prices in the range of R$1,300.00 (Serra station) for shipments in the second half of January, with payment scheduled for March. In the center of the state, mills indicate lower prices, around R$1,250.00 (station). External buyers remain absent, purchasing only occasional lots. In Santa Catarina, cooperatives continue to receive the last batches of the local harvest, with prices higher than CIF wheat from Rio Grande do Sul. Despite the high demand for bran, limited milling limits the volume of deliveries. Offers for wheat from ...

Source: Portal Do Agronegocio