U.S. Wheat Farmers Stare Down Huge Losses as Foreign Goods Flood Market

Wheat combine

Many American wheat farmers may face losses in 2024 due to a glut of foreign supply coupled with soaring equipment and labor costs amid high inflation, Reuters reported Wednesday.

Wheat prices are near their lowest point in nearly four years as supply from the Black Sea and Europe has unexpectedly flooded the market after three years of droughts draining reserves, hitting winter wheat farmers in the Great Plains particularly hard, according to Reuters. Costs for transporting and producing American wheat have soared compared to foreign wheat suppliers, with high inflation increasing costs for farm equipment, repairs and labor for farmers.

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Commentary: America Leaving NATO Would Be Good for Itself and Europe

NATO

Donald Trump resumed his role as the “wise fool” in recent, off-the-cuff remarks about NATO. He suggested that free-riding NATO members who do not pay their fair share might have to fight Russia on their own. National security hawks and Trump’s media enemies responded with lots of pious talk about our sacred NATO obligations. Joe Biden even said Trump was “un-American.”

Trump is not the first to suggest NATO partners should pay their fair share. But unlike his predecessors, he is willing to employ some leverage to make it happen. The real dirty secret here, as evidenced by how long this situation has gone on, is that enabling the Europeans to neglect their own defense is a feature and not a bug of America’s dominance over the NATO organization.

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