With sellers away from the market and US dollar appreciation, prices end January on the rise

Cepea, February 4, 2020 – Wheat prices ended January on the rise in Brazil. Sellers were mostly away from the market, while purchasers were active, which pushed up quotes. Besides, the US dollar appreciation against Real, which makes imports more expensive, helped to increase prices in the first month of the year. On the other hand, in Rio Grande do Sul (RS), valuations were constrained by the higher supply from the 2019 harvesting. In Paraná, both volume and quality decreased.

 

In January, prices rose 3.3% in the wholesale market of RS, 9.4% in Paraná (PR) and 9.2% in São Paulo (SP). In the over-the-counter market (values paid to wheat growers), quotes increased 6.1% in RS and 4.7% in PR. The average in Paraná in Jan/20 was 5.2% higher than that from Jan/19. In the same comparison, the average in RS was 1.2% higher, and in São Paulo and Santa Catarina, prices were 3.1% and 7.4% higher, respectively. The US dollar, in turn, rose 6.6% in January/20.

 

As regards purchasers, agents from mills seem concerned about the possible price rises for wheat flour and bran. According to Cepea collaborators, although they still have wheat to receive (from deals previously closed), in some cases, prices had not be fixed yet.

 

(Cepea-Brazil)

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