Exchange rates continue to allow domestic wheat prices to keep an upward trend, even during harvesting in Brazil. In Paraná, the purchase average price rose to around BRL 1,630/ton for FOB, which represents an increase of almost 8% compared to last month. According to the analyst at Safras & Mercado, Élcio Bento, “there were rumors of buyers at BRL 1,650/ton for wheat bread, however, no business was reported due to the lack of supply of this type of product in the market”. As for low-quality wheat (type 03, PH 75, FN 170), business was reported in the south-central region of the state of Parana at BRL 1,450/ton. In the state of Rio Grande do Sul, the harvest continues advancing driven by the dry climate. Domestic buyers remain on the defensive and suggest around BRL 1,480/ton on FOB. For export, it is expected that around 900 thousand tons have already been demanded. Export parity with the most attractive options in America is R$ 1,475/ton in Rio Grande do Sul.
Source: Canal Rural (*Translated by Ia Niani)