Global Grain Trade Route Shaken Up Following Drought and Rain Conditions
While wheat harvest yields are booming in many parts of the globe, extreme weather's negative impact on European Union crops are shaking up the global wheat markets, according to a Bloomberg report.
The opposite forces of floods and drought have pummeled EU fields, dropping it to third place among world wheat exporters. The EU had only recently passed Russia as the top exporter.
Other key shippers, however, are looking at banner years. Canada is set for record sales, Australia will export the most in four years and Russia will regain the No. 1 spot, according to the U.S. Department of Agriculture.
To read the summary of how crops and shipments are shaping up in major shippers, click here.
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