Alongside the sugarcane and soyabeans that sprout from his fields in the interior of São Paulo state, this year José Odilon De Lima Neto plans on sowing a different crop for the first time.
“There may be an investment opportunity in wheat due to complications for summer planting in Ukraine and Russia,” said the farmer based near the city of Ribeirão Preto.
International prices for the cereal have surged since Moscow invaded its neighbour, reflecting worries that the warring nations — which together account for about 30 per cent of all wheat trade — will struggle to deliver to the dozens of countries that rely on them for imports.
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