Reduced wheat production in the Southern hemisphere indicates a strong export market for U.S. wheat in the coming 6 months. Exports from Russia are at a standstill after a short harvest last summer and Black Sea exports are expected to be light until May or June. Dryness in Western Australia cut that country’s wheat harvest by 21 million metric tons and the U.S. Department of Agriculture (USDA) expects only 16.5 million tons of wheat exported from the country. In Argentina farmers have been discouraged from planting wheat and a wet harvest decreased numbers further. Argentina’s wheat exports are at just 5.5 million tons from 12.7 million a year earlier. Ukraine has already shipped all of its available 3.3 million tons of wheat and Kazakhstan is only exporting 7 million tons compared to 11.39 million tons. The USDA sees the U.S. and Canada drawing down their wheat stocks to supply foreign buyers.