The best wheat campaign in history will be left without the icing on the cake.

Although the 2025/26 wheat campaign is heading for a record production, the dollar contribution of the cereal will not reach historical levels due to the sharp drop in international prices, which dilutes the effect of the greater exportable volume. The data shows that, even with more tons, the income of foreign currency increasingly depends on a global context that is currently against it. Despite the fact that 37% more volume would be exported than in the last cycle, external sales would be around US$3500 million, below the US$4700 million of 2021/2022. Argentina would produce around 26.8 million tons of wheat, the largest volume since systematic records exist. The productive leap, close to 50% year-on-year, is mainly explained by better average yields, favored by more benign climatic conditions than in previous campaigns, and to a lesser extent by an expansion of the sown area. According to the latest report by economist Franco Artusso, from the Ieral of the Mediterranean ...