According to analysts, exports of wheat may drop 9.3 percent to 21.1 million metric tons in the season ending May 31, the lowest since 1972.
“We’re no longer going to lead in volume every year,” said Alan Tracy, president of US Wheat Associates told Bloomberg, adding that an increase in global wheat trade was the only hope for the country.
Nearly forty percent of the US crop goes for export, according to the Department of Agriculture. The acreage for winter wheat fell to its second-lowest since 1913.
As US wheat is no longer the leader in global markets, American farmers are changing to corn and soybeans.
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