External increase limits the fall in wheat prices in Brazil

Wheat prices continue to fall in Brazil, influenced by expectations indicating record production in the country and the start of the 2022/23 harvest, especially in Paraná and São Paulo. Wheat farmers in Rio Grande do Sul are also waiting for a large harvest, given the favorable climate for crops.

However, the internal fall was limited by the increase in external wheat prices. In this case, estimates indicating record international transactions and water deficit in part of the wheat crops in Argentina and the Southern Plains of the United States boosted the cereal's external values.

The intensification of the conflict between Russia and Ukraine, which could hamper the flow of grains through the Black Sea, also reinforced the upward movement.