An even larger wheat harvest is expected

The global wheat harvest is even larger than expected, and supplies are increasing. This is the main conclusion in the monthly report of the US Department of Agriculture (USDA) on the state of the markets. According to the data, the wheat harvest is expected to reach 828.9 million tons, compared to the previous estimate of 816.2 million tons and 800.8 million tons for 2024/2025. This leads to a significant increase in expected global supplies, now estimated at 271.4 million tons, compared to 264 million tons forecast by USDA in September. Ukraine with important decisions for the oilseed complex The report also indicates that Russia will harvest higher than expected quantities of wheat. Estimates confirm a harvest of 86.5 million tons. With the start of the harvest in Argentina, forecasts point to a new record of 24.5 million tons. However, the situation with European wheat remains extremely difficult in the export markets. For corn and rapeseed, prices are holding due to lower ...