Cepea, 4/02/2025 – Average wheat prices were firm in January. According to Cepea researchers, support came mainly from producers holding back; most stayed away from the spot market, selling small volumes. On the demand side, well-supplied buyers purchased small quantities of the cereal to top up stocks, showing greater interest in closing forward contracts for delivery starting in March. According to a Cepea survey, in January, the monthly average for wheat traded in Rio Grande do Sul was R$ 1.270,02/t, up 1,4% from December/24 but down 3,5% from January/24, in real terms (values were deflated using the IGP-DI). In Paraná, increases were 0,9% month-on-month and 5,3% year-on-year, at an average of R$ 1.409,27/t. In São Paulo, there were respective gains of 0,8% and 18,4%, to R$ 1.591,94/t in January/24. In Santa Catarina, the average was R$ 1.438,73/t, 1,2% above December/24 but 0,9% below January/24. Source: Cepea (www.cepea.esalq.usp.br)