Weather

In Russia, Wheat Abounds

U.S. wheat farmers are losing out to an old rival: Russia. The 83 million tons of wheat Russian farmers are forecast to have reaped this season has cemented the country's resurgence as an agricultural superpower and ratcheted up the pressure on U.S. farmers, who sowed fewer acres of wheat in 2017 than ever before. Wheat prices at the Chicago Board of Trade hit $4.19 a bushel this week, down almost 25% since Russia began a record wheat harvest in July.