Global wheat market: Wheat prices decline due to ample global supply and increased export competition

Published 2025년 11월 24일

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Core tip: According to foreign media on November 23, as of the week ending November 21, 2025, the global wheat market continued to decline. Although there was a slight rebound at the beginning of the week driven by macroeconomic sentiment, due to ample global supply, intense competition in the export market, and the upcoming U.S. Thanksgiving holiday, wheat prices continued to decline along the path of least resistance.

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On Friday, November 21, the Chicago Board of Trade (CBOT) March soft red winter wheat futures closed at $5.3975 per bushel, down 0.32% from the previous week. The Kansas City Board of Trade (KCBT) March hard red winter wheat futures closed at $5.2625 per bushel, down 0.89%. The Minneapolis Grain Exchange (MGEX) March hard red spring wheat futures closed at $5.65 per bushel, down 1.95%. The Euronext March wheat price was €192 per ton, down 0.26%. The Argentine Rosario wheat price was $211 per ton, down 1.86%. The ICE U.S. Dollar Index closed at 100.113 points, up 0.92% from the previous week. Global wheat supply is abundant, with a favorable production pattern continuing The International Grains Council (IGC) on Thursday raised its forecast for global wheat production in 2025/26 by 3 million tons to 830 million tons, due to higher production in Kazakhstan by 1.5 million tons and in Argentina by 1.3 million tons. Consultancy SovEcon raised its forecast for Russian wheat production ...

Source: Foodmate