See the latest Wheat Outlook report.
U.S. Exports Raised but Still Trail Key Competitors
The United States was historically the world’s leading wheat exporter but has lost this position in recent years. U.S. exports are raised this month 1.0 million metric tons (MMT) to 24.5 MMT with a fast pace of sales and shipments, particularly for Hard Red Winter (HRW). Furthermore, U.S. prices are competitive with other global origins. However, even with U.S. exports forecast at a 5-year high, the United States is still forecast as the 5th-largest global wheat supplier. Global import demand is forecast to rebound in 2025/26 but would still be below the record set in 2023/24. Global wheat production is forecast at a record high this year with major competitors expected to harvest bumper crops. Russia and the European Union (EU) are forecast to once again lead global exports with larger crops. Canada and Australia are also expecting bumper crops and will compete with U.S. exports in key markets as well.