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Slow harvest and exchange rates alter the wheat outlook.

The market of wheat In the south of the country, the crop is facing quality challenges in the new harvest and increased competition from imported products, amidst a falling dollar. According to TF Agroeconômica, the lower exchange rate increases the attractiveness of foreign grain and limits the appreciation of domestic prices.

In Rio Grande do Sul, wheat from the old crop has reached import parity, while Argentine wheat is already arriving at lower prices. Indications are R$ 1,550 per ton for the old crop and R$ 1,400 for recently harvested lots of adequate quality, both inland. The harvest is progressing slowly and is not expected to have exceeded 1.5% of the state's area. High humidity has hampered the work, and there is uncertainty about its resumption. At the market, the sack reached R$ 75 in Panambi and R$ 78 in Espumoso.

In Santa Catarina, the supply of quality wheat remains limited, while mills are evaluating import alternatives. A local mill reported an adjustment of 11.5% in the flour price list, still considered insufficient. For the 2026/27 harvest, Epagri forecasts a reduction of 35% in the planted area and 2.5% in average productivity, with production estimated at 243,000 tons, a decrease of approximately 37% compared to the previous cycle. In the over-the-counter market, prices range from R$ 72 per sack in Rio do Sul to R$ 80 in Xanxerê.

In Paraná, the scarcity of remaining wheat and quality problems in new batches are expected to increase the need for imports. Some harvested areas showed low hectoliter weight or a falling index, and producers are seeking to renegotiate contracts. For type 1 wheat, purchase indications delivered to mills range from R$ 1,550 per ton in September to R$ 1,450 in November. Paraguayan wheat is indicated at US$ 320 in the Campos Gerais region, while Argentine wheat, at 11.5%, reaches US$ 325 in Paranaguá.

 

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