Posted by jay on Monday, April 4, 2011 at 3:52am.
The U.S would be a wheat importer instead of the world's largest producer. Prices for wheat and bread would be much higher worldwide. People would have to eat less of it, because there would be much less available.
The U.S. balance of payments would become much worse than it already is, and the value of the US dollar would fall compared to the Euro, Pound, Yen and Chinese Yuan.
In North America, Canada would become more prosperous (in per capita GNP) compared to the USA. (This is already happening).
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