Historically, the U.S. has been the world's dominant producer of grains and oilseeds. As such, the U.S. was also by far the world's leading supplier of grains and oilseeds, mainly soybeans. In the last 15-20 years, however, U.S. dominance has been slipping as crop production in South America, Eastern Europe and Asia has increased much more rapidly than has been the case in the United States. For example, in the 2012/13 wheat year just finishing, the U.S. is the fourth-largest producer of wheat behind the EU, China and India. Combined, Russia, Ukraine and Kazakhstan grow more wheat than does the United States.The U.S. is still the world's largest producer of corn. Even in the 2012/13 drought year, U.S. corn production was about 65 MMT more...