U.S. Wheat Price Outlook Strengthens Amid Higher Global Supplies

The U.S. wheat price outlook has strengthened for the 2026/27 season, according to Kedia Advisory. The season-average farm price increased by $0.20 to $6.40 per bushel, reflecting higher NASS prices and firmer futures and cash expectations. Additionally, higher corn prices are providing support to wheat's price outlook.

The global wheat supply has risen 3.5 million tonnes to 1,103.0 million tonnes due to stronger production estimates in major exporting countries. Australia's crop was increased by 3.0 million tonnes to 31.0 million, while Canada rose by 1.0 million tonnes to 36.0 million.

However, world trade declined by 0.9 million tonnes to 211.8 million tonnes due to weaker shipments from Russia, Ukraine, Kazakhstan, and Egypt. Global ending stocks are projected at 276.3 million tonnes, up 3.0 million, led by higher stocks in Russia, Australia, and Ukraine.