Wheat Eases on Oversupply

2025-11-12 15:40 By Felipe Alarcon 1 min. read

Wheat futures eased toward $5.30 per bushel as a surge of new crop supplies from major exporters has outpaced near term demand.

The International Grains Council now pegs the 2025-26 global crop at a record 819 million tonnes, driven by rebounds in the EU and Russia and bigger harvests in the Americas.

Those larger outturns, along with above normal inventories in key exporters, have removed urgency for forward buying.

Export flows have accelerated from the Black Sea and from Argentina where the harvest is advancing and the crop is forecast near 22 million tonnes, producing competitive FOB offers that undercut earlier levels.

Chinese buying has so far been limited and Moscow to Asia spreads have narrowed, while only small US sales have been reported, all of which reduces an important outlet for US and southern hemisphere sellers.

Local logistical frictions and pre-winter river closures create pockets of tightness, but they are not enough to offset the overall flood of available grain.



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