The chief executives of ADM and Bunge, another global grain merchant, have both suggested China may not need to buy U.S. soybeans to fill the gap until the next Brazilian crop. Adverse global weather has resulted in a shortage in the world's wheat supply, which may force many countries to import more from the Brazil . A shortage of Brazilian wheat supply after a quick start to its export campaign coupled with a reduction in global supply due to extreme drought will lead many buyers to pay the higher US prices for the commodity in order to meet demand. Potential demand for US wheat exports was forecast at 38 million tonnes (mt) in the second half , but no longer seems likely given the slow export pace, according to the president of ADM .
Adverse global weather has resulted in a shortage in the world's wheat supply, which may force many countries to import more from the Brazil . A shortage of Brazilian wheat supply after a quick start to its export campaign coupled with a reduction in global supply due to extreme drought will lead many buyers to pay the higher US prices for the commodity in order to meet demand. Potential demand for US wheat exports was forecast at 38 million tonnes (mt) in the second half , but no longer seems likely given the slow export pace, according to the president of ADM .