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Quotes rise abroad, but oscillate in the Brazilian market

 
Cepea, June 4 2019 – International and domestic wheat prices had opposite behaviors in May. While quotes rose abroad, in Brazil, they oscillated, reflecting agents’ cautiousness about closing new deals – many of them claimed that wheat flour sales were weakened and, thus, preferred to wait for a more favorable moment to trade.

 

Thus, between April 30 and May 31, prices dropped 2% in the over-the-counter market of Rio Grande do Sul and 0.9% in Paraná. In Santa Catarina, quotes rose a slight 0.4%. In the wholesale market, values decreased 0.9% in Paraná, 0.6% in Santa Catarina and 0.4% in São Paulo – in Rio Grande do Sul, prices remained stable (+0.2%).

 

In the United States and Argentina, however, wheat prices increased. The US dollar rose too, operating at more than the 4 BRL observed in April – the average of the month was 3.995 BRL. In the United States, the boost came from unfavorable weather to spring crops – the possibility of high moisture in the wheat producing areas from that country may delay wheat sowing again.

 

In Argentina, the larger wheat flour volumes traded in the last seven crops pushed up wheat grain quotes, since processing plants are trying to anticipate purchases in the short term. Data from Bolsa de Rosário indicate that wheat flour exports from Argentina have totaled 315 thousand tons.

 

FIELD – In Paraná, Deral/Seab shows that 65% of the area had been sown until May 27. Of the crops in the field, 95% are in good conditions and 5%, in average conditions.

 

In Rio Grande do Sul, Emater has released the first estimates for the area to be sown, productivity and production. Supply should be 7.54% lower than in 2018, at 1.62 million tons in the 2019/20 crop. Productivity may decrease by 11.2%, to 2.19 tons per hectare. Concerning sowing, activities have advanced slightly, due to high soil moisture.

 

(Cepea-Brazil)

 

 

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