Despite the external fall, wheat prices remain high in Brazil

Wheat grain prices are firm in the domestic market during this period off-season, despite the international devaluation. In São Paulo, the price of cereal on the available market is the highest since May/20, and in the other states, since Apr/21.

Liquidity is below what some agents expected, but there are signs recovery in derivative transactions, as in the case of wheat bran.

Cepea employees report that the demand for this derivative increased, due to the drought in the south of the country – which affects the quality of pastures – and the rise in the price of corn, a substitute in feed.

In the foreign market, values ​​were pressured by information released in the latest USDA report, which indicated an increase in the projection of world production and lower volume exported by the United States.