See the latest Wheat Outlook report.
U.S. Wheat Exports Rebounding in 2025/26
U.S. wheat exports for 2025/26 are forecast up 25 million bushels this month to 875 million, the highest since 2020/21, based on a strong pace of export sales and competitive pricing. U.S. Hard Red Winter (HRW) exports are forecast up to 300 million bushels with total commitments (the sum of accumulated exports and outstanding sales) nearly doubled from a year ago, based on the USDA, Foreign Agricultural Service U.S. Export Sales database (comparing July 31 this year with August 1, 2024). With competitive pricing relative to other exporters, HRW sales have expanded to a wide variety of markets, most notably Nigeria, Mexico, Venezuela, and Bangladesh. Export sales of Soft Red Winter (SRW) and Durum are running slightly ahead of last year and total exports of those classes are forecast up for the marketing year. Conversely, sales of Hard Red Spring (HRS) and White currently lag last year’s pace and are forecast down year to year.