Cepea, April 2, 2025 – Wheat prices continued to move up in Brazil and in Argentina in late March. Increases were registered during the first quarter of 2025, which is seasonally expected.
In the United States, on the other hand, values decreased due to the trade war, high dollar levels (which leads US products to be less attractive) and impacts of the conflict in the Black Sea.
Thus, average wheat prices in March were the highest of this year in both Brazil and Argentina, but in the US, on the other hand, the May/25 contract traded at the CME Group hit the lowest level since the beginning of its negotiation, in mid-July 2022.
In March (up to March 28), the monthly average of wheat prices in Paraná was BRL 1,519.57 per ton, upping 4.48% against February/25 and 12.2% in relation to that in March/24, in real terms (IGP-DI). In Rio Grande do Sul, the average was BRL 1,395.67/ton, 5.4% up in one month and +9% in one year. In São Paulo, prices averaged BRL 1.621.61/ton, +0.2% and +21.5% in the same comparisons. As for Santa Catarina, the average was BRL 1,424.88/ton in March, for a decrease of 0.3% compared to the month before and dropping 6.4% against that in the same month last year.
(Cepea-Brazil)
Centro de Estudos Avançados em Economia Aplicada – CEPEA-Esalq/USP
