Wheat: Mills are cautious in the South

The movement of wheat in the South is determined by the slow pace of domestic purchases and the advancement of exports, which are beginning to gain strength. In Rio Grande do Sul, TF Agroeconômica reports that mills maintain short acquisitions, using old wheat mixed with new to reduce the average cost. The consultancy states that the ample supply in the state should prevent industries from starting the next year heavily purchased. The expectation is that they will lengthen positions between January and March, before the soybean, due to freight. Prices are at R$ 1,020 in the interior, R$ 1,140 in the Canoas and Porto Alegre region, and R$ 1,150 in the Serra. Export maintains values pressured by the low dollar. TF Agroeconômica reports payments of R$ 1,090 for feed wheat with 4000 PPM for December 23 and R$ 1,100 for January 13 at the port. The decline in the currency also makes Argentine wheat more competitive in imports. For the first time in the crop, the line up brings 274,750 ...