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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. Furthermore, these agents have been monitoring the development of the current season, as last weekend's frosts could affect part of the crops. However, estimates still indicate a larger harvest in Brazil and around the world.
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Data released by the USDA last week even reduced the global production estimate for the 2021/22 harvest 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's expectation is that production will 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 industry, which has resulted in a slight increase in prices in recent days. In the flour market, demand remains stable.
By: Aline Merladete | agrolink
