Wheat flour is a globally traded staple food commodity derived from milling wheat grain, with demand largely inelastic due to its role as a dietary cornerstone across most cultures. Key exporters include Russia, the US, Canada, Turkey, and Australia, though export restrictions and geopolitical tensions—particularly involving Black Sea producers—can cause significant supply disruptions. Trade flows are sensitive to wheat crop performance, government intervention policies, and energy costs associated with milling operations.
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