As the Russian wheat crop is reduced by drought, and the price of US wheat is on the rise along with corn and soybeans, the EU wheat crop seems like it fared better. Estimates are that the EU wheat yield will be just 3% lower than last year. However, less of the EU crop looks like it will be of high enough quality for milling and producing bread. The EU is the fifth largest wheat exporter after the U.S., Australia, Canada, and Russia and is a very important wheat exporter to North Africa and the Middle East.