Wheat remains subdued

The wheat market in southern Brazil remains subdued due to low demand for flour and external pressures. According to TF Agroeconômica, prices continue to register declines in different regions, while mills await greater clarity about the next harvest and Argentine imports. In Rio Grande do Sul, the available market maintained stable lot prices despite the CEPEA average drop. The latest deals for wheat with PH 78, FN 250, and Don of 1,500 were made at R$ 1,150.00 in the interior, but occasional buyers are already testing values of R$ 1,100.00, which sellers have not yet accepted. For November, local mills project prices around R$ 1,100.00 per bushel. On the external market, values for December fell to R$ 1,180.00, with the possibility of delivering feed wheat with a 20% discount. Additionally, on the 27th, the ship ES Jasmine, with 30,000 tons of Argentine wheat, is expected to arrive at the port of Rio Grande. Meanwhile, stone prices in Panambi retreated to R$ 68.00 per bag. In ...