The world desperately needs more grains to help temper rampant food inflation, yet there are signs that the US, a key producer, will ship the smallest amount of wheat in 50 years. American wheat is too expensive and sales have been slow, the US Department of Agriculture said in its monthly supply-and-demand report.
Adverse weather across parts of the US breadbasket have limited harvests, and low water levels along the Mississippi River are making it slower and more expensive to get crops to export terminals. Corn, soybean and rice export outlooks were also weaker.