EU Loses to Canada for No. 3 Wheat Exporter Title as Crops Fry
- Europe’s export outlook cut by 16% to a six-year low: USDA
- There’s still scope for more EU production cuts: Rabobank
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Europe’s wheat loss is a win for Canadian farmers.
After a scorching summer fried wheat crops across the European Union, the bloc is set to lose its position as the world’s third-largest exporter as Canada usurps the title, according to the U.S. Department of Agriculture. The agency Friday cut its outlook for EU wheat exports by 16 percent to a six-year low.