According to Safras & Mercado analyst Elcio Bento, the wheat market is still active with occasional trades. However, climate issues, particularly in Rio Grande do Sul, continue to be the focus. In Paraná, the harvest is progressing well, with about 50% of crops already harvested, compared to 28% at the same period last year. Several farmers have decided to dry out their crops to speed up the process, due to the risk of excess rain during El Niño years. The Paraná market has received over 2 million tons in less than a month, causing prices to be under pressure, making Paraná wheat one of the most affordable globally. Prices in Paraná range from BRL 1,000 per ton at CIF mills to BRL 930/950 per ton at FOB.
Sources: Canal Rural/Abitrigo (*Translated by Ia Niani)