Brazil long ago cemented itself as a leading world supplier of soybeans and corn, but wheat may increasingly edge its way into the country's shipping lineup as farmers plant a record area in the coming months, taking advantage of high prices and attractive profitability.
Reuters reports the South American country harvested a record wheat crop last year, which combined with strong global demand should help Brazil's wheat exports reach at least 11-year highs in the current 2021-22 season, if not a record.
Brazil has a long way to go before competing with top global wheat suppliers, as it will account for just 1% of all shipments in 2021-22. But that share could increase with a bigger crop and continued displacement of Black Sea wheat customers.
