U.S. Wheat Sales at 25-Year Low Add to Dollar’s Victim List
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U.S. wheat exports fell to the lowest in 25 years, underscoring the blow to farmers who are struggling to compete with foreign growers as the strengthening dollar makes American goods more expensive.
Their troubles are compounded by a world awash in wheat after two consecutive record global harvests, leaving exporters to undercut each other’s prices in a bid to unload supplies at a time when domestic production costs are already relatively high. American exports in the week ended March 19 fell to the lowest for this time of year since 1990, government data showed Thursday.