Brazil Weekly

🌾 Brazilian wheat booms

Good morning! This week, how the war in Ukraine gave a boost to Brazilian wheat. The drop in value of Brazil’s minimum wage. Vale’s deal with Tesla. And the battle for Telegram.

Brazil betting on wheat

Brazilian wheat booms
Wheat field in Arapongas, Paraná. Photo: Alf Ribeiro/Shutterstock

Traditionally a massive importer of wheat, Brazil broke all export records for the cereal in Q1 2022 at 2.2 million tons— as local producers try to cash in on soaring prices due to the war in Ukraine. The conflict in Eastern Europe disrupted the wheat trade, as Russia and Ukraine are the world’s first- and sixth-largest exporters of the product, respectively.

  • Wheat markets have...

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