Wheat quotations and prices in Brazil and the US

The national wheat market remains with limited activities, reflecting a reduced volume of negotiations. The harvest, although at an early stage, of the crop with favorable prospects in Paraná is exerting pressure on prices. Mills in the state of Paraná are indicating values between R$ 1,200 and R$ 1,250 per ton for batches from the recent harvest. In Rio Grande do Sul, transactions have been punctual. Indications for the previous harvest are in the range of R$ 1,230 to R$ 1,240 per ton. For the recent harvest, small batches are being negotiated for around R$1,100 per ton. According to Elcio Bento, an analyst at Safras & Mercado, the analysis of the parity lines reveals the interest of buyers in reaching a level close to that of exports. “This is common behavior in times of oversupply. With wheat supplies still limited, considering the very reduced Argentine harvest and the Northern Hemisphere supply options for hard wheat still maintained above local quotations, it is noticeable ...