The report claims Wenger has approached Gremio over a deal for defender Bressan. The 21-year-old was close to moving to the Premier League today, but a transfer to Queens Park Rangers collapsed.
Harry Redknapp reportedly pulled the plug on the deal due to potential problems securing a work permit. QPR had explored the possibility of a loan move, but it's believed Wenger is looking for a permanent option.
The Gunners have already signed Calum Chambers to replace the departed Thomas Vermaelen - the Belgian international moved to Barcelona.
But the former-Southampton defender is still relatively untested at Premier League level, and although he has shown good potential, Arsenal want more strength in depth at the position.
Wenger on transfers
Striker a need
It's not exactly the deal most Arsenal fans had been hoping for on deadline day, as the Gunners supporters told Wenger in no uncertain terms against Leicester City that a striker was their urgent priority.
Wenger has since defended Yaya Sanogo again, after the Frenchman came in for criticism following his performance against the Foxes. He is the only senior striker for the club following Olivier Giroud's injury.
Radamel Falcao was a possible option, but the Gunners dropped their interest after hearing the Colombian's wage demands. He now looks set to move to Manchester United.
A defensive midfielder is also a priority for the Gunners, but moves for William Carvalho and Sami Khedira look dead in the water.
So it looks like the only activity tonight at the Emirates Stadium will involve the strengthening of a back-line that has looked unconvincing at times this season.
Laurent Koscielny was forced off against Leicester City after a clash of heads, and although the injury is not thought to be serious, it still underlined the need to develop the squad at the position.
Bressan started his career at Juventude before moving to Gremio in the winter of 2013.