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Russia Is Exporting More Wheat Than Any Country in 25 Years

  • Exports expected to be biggest since U.S. shipments in 1992-93
  • Black Sea nation has been grabbing market share from U.S.
Wheat kernels sit in a field during the summer wheat harvest on a farm operated by Kuban Agroholding, a unit of Basic Element Co., in Ust-Labinsk, Russia, on Sunday, June 26, 2016. Russian wheat-export prices dropped to a six-year low last week as prices in major competitors such as the U.S. and France fell and harvesting of a bumper crop was about to start.
Photographer: Andrey Rudakov/Bloomberg
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It’s been a long time since any country shipped out as much wheat as Russia.

As estimates for the Black Sea nation’s harvest keep growing, so does the outlook for exports. The world’s top exporter is now expected to sell 36.6 million metric tons overseas, according to consultants SovEcon and the Institute for Agricultural Market Studies, or IKAR. The U.S. was the last nation to ship out more, a quarter century ago.