Bloomberg cites UKRAgroConsult’s data showing that U.S. HRW wheat has been priced above competing sources (France, Russia, Ukraine, EU) for well more than a year. It notes that the U.S. is now importing wheat from Poland. This is occurring despite the U.S. having an overall surplus of wheat that is much higher than the rest of the world. In fact, the U.S. has long carried a large share of the world’s surplus wheat.  This might seem like apples and oranges since U.S. SRW is priced more like other global suppliers, but Europe produces mostly soft wheat. While soft and hard wheats have their own qualities uniquely tied to some specific uses, historically various wheats are blended to achieve specific outcomes at the most effi...

TAGS – Wheat, North America