High production of wheat worldwide puts pressure on prices

The USDA report, analyzed by Cepea, projects an increase in global wheat production in the 2025/26 crop season, with high stocks and prices under pressure even in the face of tensions in the Black Sea. Global wheat production continues on an upward trend and is expected to reach 837.8 million tons in the 2025/26 season, according to a report released this month by the United States Department of Agriculture (USDA) and analyzed by the Center for Advanced Studies in Applied Economics (Cepea). The volume represents an increase of 1.1% from the previous projection in November and a growth of 4.6% compared to the 2024/25 crop season. According to data released by Cepea, this advance in global supply, combined with a more restrained growth in demand, supports the increase in world wheat stocks and maintains downward pressure on international wheat prices. Global demand for wheat was estimated at 822.97 million tons, an increase of 0.5% from November and 1.5% compared to the previous ...