Wheat: in the off-season, prices rise again in Brazil

Published Jun 19, 2024

Tridge summary

Domestic wheat prices are increasing during the off-season as producers hold out for higher spot prices, particularly for high-quality wheat, while mill agents aim for lower prices, resulting in limited liquidity and ad hoc negotiations. Official estimates predict a reduction in the cultivated area for 2024 by 11.4% to 3.087 million hectares, but a 26.3% rise in productivity is expected to boost production to 9.065 million tons, marking a 12% increase from the 2023 harvest.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Domestic wheat prices continue to rise this off-season. According to Cepea researchers, producers maintain their offers at higher spot prices, especially for higher quality cereal (PH>78), while mill agents try to acquire new lots at lower prices. Check out hot information about agriculture, livestock, economy and weather forecast in the palm of your hand: follow Canal Rural on WhatsApp! This scenario limits liquidity, and negotiations occur on an ad hoc basis, according to Cepea research. In the field, official estimates point to a drop in the area to be cultivated in the country. In a report released this month, Conab indicated 3.087 million hectares in ...
Source: CanalRural
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