Supply Chain Research

U.S. farmers will plant 32.6 million acres of winter wheat this year, the lowest since records began. That’s been the result of an expectation for weakening demand in export markets, including competition from Russia. The past year hasn’t been too bad, with a 16% increase in exports in the 12 months to November 30 despite a decline in the past five months. That included a doubling of shipments to China. Yet, the bigger issue is Mexico. The government there has already committed to diversifying food supplies, and will be spurred to do so should President Trump withdraw the U.S. from NAFTA...