The grain markets set a new record

In brief: • Argentina exports a record amount of production in just a few days • Stocks and production in the USA are growing, Russia lowers export duties The beginning of the week started off difficult for international stock markets, as wheat prices in Paris for the December contract closed lower again yesterday, driven by the new downward trend in Chicago. This consecutive global decline has been provoked by the USDA's reassessment of wheat production for the 2025 harvest, as well as the size of the quarterly stocks, experts are categorical. Wheat production in the USA was revised upwards by the USDA, now estimated at 54 million tons. This increase in availability automatically led to an increase in quarterly stocks, reported at 57.7 million tons at the end of the first half of the 2025/2026 season. The forecast led to a drop in prices, with the December 2025 contract starting to trade at a new low. We have often commented on the role of international reports on supply ...