The United States is about to import the largest wheat cargo from the U.K. in more than two decades as a combination of ample British supply, a weaker pound and rock-bottom freight rates make the unusual trade viable.
It’s unusual for the U.S. to import large quantities of wheat, not least because it’s the third-biggest exporter, behind only Russia and Canada. The U.K., a far smaller producer, primarily exports feed-grade wheat to other European nations. Never before has it shipped a cargo that large to America, according to customs records dating to 1992.
Even though the U.S. is a net exporter of wheat, local variations in availability and freight costs sometimes lead to foreign purchases. And when there are imports, they’re most likely to come from Canada, which shares a 5,500-mile border and free-trade status.