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Wheat prices remain firm in Brazil

Posted by Rafael Moro

Image: Pixabay

Wheat prices remain firm in Brazil, even with lower liquidity – operators consulted by Cepea point out that the low national availability of the grain affects interest in new business. In addition, these agents have been following the development of the current season, since last weekend's frosts can affect part of the crops. However, estimates still point to a bigger harvest in Brazil and in the world.

Data released by the USDA last week even reduced the estimate of world production for the 2021/22 crop to 792.39 million tons, however, the forecast remains 2.1% higher than the 2020/21 season.

According to the Cepea bulletin, for Brazil, the USDA expects production to be 10.4% greater than that of the 2020/21 harvest, reaching 6.9 million tons. As for derivatives, negotiations are heated in the domestic wheat bran market, due to greater demand from the feed industries, which resulted in a slight increase in prices in recent days. In the flour market, demand remains stable.

By: Aline Merladete | Agrolink