Argentine wheat production could fall by almost 40%

The recent devaluation of the North American currency has been reducing import parity, which, in turn, favors foreign purchases. However, in Argentina, the largest supplier of wheat to Brazil, the Cereals Exchange again reduced its projection for the cereal harvest, by 1,2 million tons compared to the previous report, to 14 million tons.

Compared to last season (which totaled 22,4 million tons), the drop in Argentine production is a significant 37,5%.

In Brazil, the advance of the wheat harvest in Rio Grande do Sul has resulted in a drop in prices in the state. Cepea employees report trading wheat from Rio Grande do Sul destined for Paraná, due to the better quality of the cereal.