Brazil despite larger wheat crops, remains a net importer, but declining

Brazilian farmers will harvest a record wheat crop of 11.3 million tons in the 2023/2024 season, compared with 11 million tons in the previous one, StoneX said on Monday. In its first forecast for the new crop, StoneX said farmers will expand the planted area by 6.1% to 3.48 million hectares (8.599 million acres).