The USDA projects global wheat production for the 2025/26 marketing year at 816.2 million tons, up 9.3 million tons from the previous forecast, according to the September USDA report.
Global wheat exports are expected to reach 214.2 million tons, an increase of 1.19 million tons. World ending stocks are forecast at 264.06 million tons, up 3.98 million tons.
Ukraine’s wheat harvest is estimated at 23 million tons (+1 million), with exports at 15 million tons (-0.5 million) and ending stocks at 1.93 million tons (+1 million).
The U.S. wheat harvest is projected at 52.45 million tons, with exports at 24.49 million tons (+0.68 million) and ending stocks at 22.96 million tons (-0.68 million).
USDA analysts expect China’s wheat production in 2025/26 to reach 140 million tons, imports at 6 million tons, and ending stocks at 124.78 million tons.
