This episode provides a global snapshot of wheat market.

• In the United States, winter wheat crop conditions are improving, with 9 percent rated excellent and 46 percent rated good, both showing week-over-week gains. The USDA projects a 2.4 percent increase in winter wheat production to 1.382 billion bushels, with an average yield of 53.7 bushels per acre. However, harvested acreage is expected to fall by 1.5 percent. Kansas is showing strong production growth, while Oklahoma faces declines due to drought concerns.
• Turkey forecasts a decrease in wheat output to 18.6 million tons, the result of its driest October-to-March period in 65 years. Despite this, the country remains a top flour exporter, although competition from Russia is increasing. Turkish milling capacity is underutilized, with current production at 23 million tons versus a potential of 32 million tons.
• Russia has significantly reduced wheat exports, with the number of exporting companies and nations falling sharply. Demand from major buyers like Egypt, Iran, and Libya has dropped, while price competitiveness remains a challenge due to higher Russian wheat prices compared to U.S. and French offerings.
• Brazil’s wheat milling sector grew by 3 percent in 2024, processing 13.2 million tons. Half of this was from imports, especially in the North and Northeast regions. This underscores the industry’s adaptability amid economic pressures and regional production limitations.
• Romania is targeting Indonesia as a new wheat export market, following Egypt’s shift toward Bulgarian wheat. Competitive pricing and favorable delivery terms position Romania to benefit from this strategic pivot.
• China has increased wheat imports from Australia and Canada due to heat-related crop concerns. Despite holding significant grain reserves, China’s projected domestic wheat production will decline by 5 million tons in 2025. Economic challenges and U.S. trade tensions could further influence its import strategies.