Wheat prices continue to rise in the domestic market

According to Cepea research, wheat prices continue to rise in the domestic market, influenced by the firm stance of sellers and the rise in the prices of the Argentine cereal. Wheat farmers consulted by Cepea remain hopeful of negotiating at higher prices in the coming months, noting that availability in the domestic market is low and that buyer stocks are expected to reduce. In Paraná (largest producing state), for example, sales already reach around 90%, according to Cepea employees. 

In relation to derivatives, the prices of a large part of wheat flour were supported by the increase in wheat prices. However, the still weakened demand restricted further increases and, therefore, a large number of mills have reduced grinding. As for wheat bran, demand fell slightly, due to the improvement in pastures due to the rain. However, the high levels of corn prices limited the devaluation of bran.  www.cepea.esalq.usp.br