Why does the US buy wheat from Europe?

In recent weeks, markets have witnessed unusual wheat purchases by the US. The news that American flour companies had imported European wheat caused concern and frustration among interested parties overseas. This prompted representatives of the U.S. Wheat Associates (USW) to make a statement to defuse the tension. "While importing European wheat to produce domestic flour is an extremely unusual situation, it is important to say that there is more than enough high-quality wheat in the U.S. available to produce all the flour we need," the statement said. . Dynamic market factors have created a large price gap between similar grades of European and American wheat. In May 2023, according to AgriCensus data, the published FOB export price for Polish wheat was more than $107 per ton lower than the FOB export price for US hard red winter wheat (HRW) in the Persian Gulf. German May export wheat prices show a similar discount to HRW FOB Gulf. Looking at this difference between the bargain ...