American Wheat Great Again as Exports to Overtake Russia's
- U.S. to regain its leading position for first time in 3 years
- Good Black Sea crops could erode U.S. advantage next season
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The U.S. and Russia are engaged in a rivalry for dominance once again, this time in the wheat market. After Russia recently pulled ahead, the U.S. has fought back, with the help of a weaker dollar.
One irony of the situation is that the U.S. is taking market share partly amid the FBI investigation into ties between President Donald Trump’s aides and Russia. The probe has weakened the greenback and made American grain cheaper for overseas buyers. That’s helping the U.S. to regain its position as the world’s largest wheat exporter for the first time in three years, stealing back the title from Russia.