Southern Wheat has new benchmarks

The wheat market in southern Brazil continues at a moderate pace with regional adjustments in prices. According to TF Agroeconômica, Rio Grande do Sul has opened a new pricing table for export, reflecting differences in grain quality and levels of DON contamination. In the port of Rio Grande, milling wheat (up to 2,000 PPM) is priced at R$ 1,165.00 per ton, while feed wheat with up to 2,000 PPM is R$ 1,115.00 and feed wheat with up to 4,000 PPM is R$ 1,095.00, all with payment scheduled for December 15. In dollars, the price of Brazilian milling wheat is around US$ 225 FOB Rio Grande, higher than the Argentine price, quoted at US$ 216 FOB Up River. In the interior of Rio Grande do Sul, quotations vary between R$ 1,000.00 and R$ 1,050.00 FOB, while mills pay between R$ 1,080.00 and R$ 1,150.00 CIF. The volume of business already totals about 570 thousand tons, with 90 thousand destined for domestic consumption and 480 thousand for export. Despite the progress, the pace remains slow ...