Brazil: Wheat business remains slow this off-season

Grains, Cereal & Legumes
Market & Price Trends
Published Apr 24, 2024

Tridge summary

Wheat planting decisions in Brazil are being carefully weighed by producers due to market conditions, climate forecasts, and high costs, leading to expectations of a decreased planting area. Meanwhile, the availability of cheaper Argentine wheat is influencing industrial agents' purchasing decisions, potentially impacting the pricing of new lots in the Brazilian spot market. Despite a predicted national harvest failure in 2023 and resulting low supply of quality cereal for baking, domestic prices have remained stable since November/23.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Negotiations involving wheat remain punctual in Brazil. According to Cepea researchers, during this off-season, producers are evaluating market conditions, climate forecasts and other factors to then decide whether to sow the cereal or alternative crops. For now, expectations are that the area will decrease, mainly due to high costs. Check out hot information about agriculture, livestock, economy and weather forecast in the palm of your hand: follow Canal Rural on WhatsApp! On the demand side, Cepea researchers point out that industrial agents are aware of the ample supply of Argentine wheat at more competitive prices than national ones, which has made these buyers reluctant to pay higher prices ...
Source: CanalRural
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