[ad_1]
Cepea, June 18, 2024 – Wheat prices remain firm in this offseason period in Brazil. Producers keep prices high in the spot market, especially considering the good-quality product. Players from mills, in turn, try to purchase new batches at lower values. This scenario limits liquidity. As for crops, official estimates indicate a decrease of the planted area.
According to data released by the IBGE on June 13, the second semester of 2023 registered lower wheat stocks (-13.3%), at 6.4 million tons. Stocks were limited by weather problems, according to players surveyed by Cepea.
Conab indicated this month that the national area may total 3.087 million hectares in 2024, downing 11.4% compared to the year before. Productivity, in turn, is expected to increase 26.3% in the same comparison, at 2,945 kg/hectare. Therefore, production is likely to hit 9.065 million tons, upping 12% against the crop finished in 2023.
The USDA says that the global wheat production is expected to amount 790.752 million tons, for a decrease of 0.93% compared to the report released in May, but moving up 0.4% against the season before. As for Brazil, the projection is at 9.5 million tons, 17.3% more than in 2023/24.
The global consumption is forecast by the USDA at 798.04 million tons in 2024/25, downing only 0.1% in relation to 2023/24.
(Cepea-Brazil)
[ad_2]
Fonte: Cepea