Wheat market enters adjustment phase in the South

The wheat market in the South of the country is going through a period of low liquidity, price pressure, and widespread caution among agents, following two years marked by strong fluctuations. According to TF Agroeconômica, the behavior observed in 2024 and 2025 reflects an exhaustion of the upward cycle and the entrance into a phase of structural adjustment, with distinct effects among the producing states. In Rio Grande do Sul, negotiations are practically suspended, with expectations of temporary shutdowns in mills for cleaning and collective vacations. It is estimated that around 1.55 million tons of the new crop have already been commercialized, equivalent to just over 40% of the production. Wheat prices for milling range between R$ 1,100 and R$ 1,150 per ton in the local market, while at the port the values are close to R$ 1,180 for December and R$ 1,190 for January. Wheat destined for feed has slightly higher quotes, and the market is described as comfortable from the ...