The duty tax was abolished back in 2013, and allowed the United States to supply Brazil with about 59% (or 4.13 million tons) of country’s overall wheat import during 2013/14 season. By now, Brazil is an active buyer of American wheat.

In the coming weeks, Brazil will begin its 2014 wheat harvesting season. According to the forecast of the USDA, the country will gather 1 million tons of wheat more than a year ago. Neighboring Argentina, which traditionally exports part of its grain to Brazil, may harvest 2 million tons of wheat more than in 2013.

The Chicago wheat market has already demonstrated negative reaction upon the news of Brazil recovering its import duties on wheat import.