The Black Sea region gains stature, the U.S. loses commodity market share
Since the start of this century, the U.S. share of the world market in wheat, corn and soybeans has declined, with South America seen as the leading rival. In reality, “the Black Sea is the only area with a larger share of world production in 2014-16 than in 2000-02 for all three crops,” says economist Carl Zulauf of Ohio State University.