Wheat market continues pressured

The wheat market in Southern Brazil continues to be pressured by the lower demand typical of the end of the year, according to TF Agroeconômica. In Rio Grande do Sul, the forecast of mill shutdowns for maintenance and collective vacations has reduced the pace of purchases, dropping prices by 0.75% on the day and 4.68% for the month, according to data from Cepea. Mill offers range between R$ 1,060 and R$ 1,130 CIF, but they still remain below the competitiveness of exports, which pays R$ 1,035 FOB. In the Panambi region, stone prices remain stable at R$ 55.00. In Santa Catarina, the advance of the harvest increases the supply, but the gap between sellers' and buyers' expectations stalls business. Producers ask for R$ 1,200/t FOB, while buyers offer between R$ 1,100 and R$ 1,150, depending on logistics. Offers from Rio Grande do Sul still predominate, around R$ 1,080 FOB plus R$ 180 of freight, in addition to wheat from São Paulo reaching R$ 1,250 CIF. Santa Catarina mills continue ...