U.S. Moves to Grab Russia’s Crown as World’s Top Wheat Supplier
- USDA boosts forecast for U.S. exports, lowers Russia outlook
- Rabobank sees ‘real chance’ for U.S. to become top shipper
A harvested wheat field in Kirkland, Illinois, on July 11, 2016.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
Just a year after Russia won the title of the world’s largest wheat supplier, it’s already in danger of losing it.
The U.S. Department of Agriculture has cut its forecast for Russian wheat exports this season for a second time, to 28.5 million metric tons. That’s closing the gap to the 27.5 million tons of shipments now expected from the U.S., which had its estimate raised by 5.8 percent.