Wheat Pressured in Southern Brazil

According to TF Agroeconômica, the wheat market remains pressured in Southern Brazil due to various factors, including surplus stocks from the previous harvest, retraction of flour demand, and absence of buyers willing to pay the prices asked by sellers. In Rio Grande do Sul, bread wheat was traded at R$ 1,380 FOB, but mills quickly retract after each purchase. The relatively high availability of raw material at this time of year contributes to keeping prices low, generating a sales cycle with reduced margins. In the new Rio Grande do Sul harvest, sellers ask for R$ 1,250 in the interior, mainly in the northern strip, but buyers offer R$ 1,200, without success in negotiations. Export quotations for December revolve around US$ 230/ton at the Port of Rio Grande, which represents about R$ 1,128 in the interior – values that make the operation unfeasible. In Panambi, the stone price remained at R$ 70.00/sack for the producer. In Santa Catarina, the market is practically paralyzed. A ...