The US Dollar Is Weakening &Nbsp; The United States Wheat Is The Cheapest In The World And Will Dominate The International Market.

According to the Holland Cooperation Bank recently,

In the first half of this year, US wheat was the most expensive product in the world, and the recent weakening of the US dollar means that American suppliers are more competitive than their European counterparts, despite the increase in pport costs.

Last week, Egypt, the world's largest wheat importer, bought 110 thousand tons of American wheat at a price of $279.80 per ton.

Traders say this marks the beginning of the US's dominance of the export market.

Holland Cooperation Bank predicts that wheat prices will continue to oscillate in the coming months before the new wheat harvest comes into the southern hemisphere.

The bank said that wheat prices will continue to be supported, given the tight fundamentals and the declining export supply, especially in Europe.

Holland Cooperation Bank said that the wheat supply in the southern hemisphere may cause some pressure on wheat prices. This year, the prospect of wheat production in Australia is very clear.

But before the first quarter of 2011, it is unlikely to cause any substantial impact.