Wheat prices fell by 2.33 percent in Brazil in February
Wheat
Brazil
Published Mar 7, 2023
Original content
In Rio Grande do Sul, the average indication in FOB inland was R$ 1,405 per ton, which corresponds to a monthly drop of 41.1%. In Paraná, FOB indications closed at an average of R$ 1,653 per ton, accumulating a drop of 1.6% when compared to the same moment last month. According to SAFRAS & Mercado analyst, Élcio Bento, the business reports remain punctual. “With the beginning of the summer harvest, the tendency is for this slowness to persist in the coming weeks. To project the behavior of quotations in the coming months, it is necessary to analyze the supply scenario”, he said. The 2022/23 season started in August 2022 with stocks of 1.308 million tons. Production closed at 11.545 million tons, against 8.745 million tons in the previous year. The estimate is that the country imports 5.4 million tons (grains, flour and premix). As a result, the total offer available in the commercial cycle will reach a record 18.233 million tons, rising by 1.806 million tons compared to last ...
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