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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 ofhigh prices and attractive profitability.
Reutersreports 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.
