While the U.S. still maintains the status of a “major” supplier for wheat, the country isn’t finding many new markets for the crop. The last decade has been especially troublesome, as once strong markets are importing from other sources.
“In 2014 to 2016, annual U.S. wheat exports averaged nearly 3 million bushels less than in 2005 to 2009,” according to Economic Research Services analysis. The reason? Perhaps because exports to Russia, Ukraine and the European Union have decreased.
Another troubling development, Egypt, one of the world’s top wheat importers, now receives most of its wheat from Russia, Ukraine and EU instead of the U.S. USDA reports a similar shift with Nigeria and Yemen.
Notably, Mexico and Philippine markets have not only remained steady, but increased imports from the U.S. during the same time frame.