After a decade of uneven export growth and rapidly growing imports, U.S. agriculture has begun to reassert its position in global trade markets. Rising exports and signs of moderating demand for imports mark a departure from previous trends. This report places past trends and emerging...

In 2008, wheat futures prices spiked and then crashed along with prices for other agricultural and nonagricultural commodities. Market observers offered several theories to explain this common movement, or comovement, in prices, and have proposed policies to address the perceived problem of...