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If the world price of wheat increases due to bad weather in Europe, Russia and South America, __________.

Corn farmers in the US may decide to reduce wheat production.

Bread prices will decrease.

Hay farmers in the US and Canada may decide to produce wheat instead of hay.

That may lead to an increase in chewing gum production.

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If the world price of wheat increases due to bad weather in Europe, Russia, and South America, hay farmers in the US and Canada may decide to produce wheat instead of hay.

This is because higher prices for wheat can incentivize farmers to switch their production to wheat in order to take advantage of the increased profitability compared to their usual crops.