Global Wheat Demand Supports Improved Price Outlook 2026

Smaller U.S. production and steady global demand could provide better pricing opportunities in 2026.

NASHVILLE, TENN. (RFD-TV) — Wheat prices could see a modest improvement in 2026 as supply fundamentals tighten, even after record global production in 2025. According to Dr. Mark Welch, grain markets economist with Texas A&M AgriLife Extension, strong worldwide demand and the likelihood of a smaller U.S. crop are shifting the outlook compared with the past year.

USDA data show world wheat production reached a record 837.8 million metric tons in 2025, while U.S. yields climbed to an all-time high of 53.3 bushels per acre. However, U.S. wheat acreage has remained steady at around 45 million acres, and weather expectations are becoming less favorable. The winter of 2026 is forecast to be influenced by La Niña conditions, which typically bring warmer, drier weather to the Southern Plains and raise the risk of lower yields.

Domestic wheat use has remained stable for decades, leaving exports as the key swing factor. Global consumption outside major exporting nations continues to exceed production, creating a growing import gap that supports demand for U.S. wheat.

Farm-Level Takeaway: Smaller U.S. production and steady global demand could provide better pricing opportunities in 2026.
Tony St. James, RFD-TV Markets Specialist

As the year comes to a close, U.S. Wheat Associates is reflecting on the wins and challenges of 2025, taking stock of what worked, what did not, and where new opportunities may lie for American wheat producers. In its year-in-review, the organization highlighted growing demand prospects in South America, pointing to the region as a key market to watch in the year ahead. Officials say continued engagement and trade development efforts there could help offset headwinds in other global markets.

Looking ahead to the 2025–26 marketing year, the U.S. wheat crop is projected to total nearly 2 billion bushels. That figure represents a modest increase in overall production compared to the 2024 crop. According to industry experts, the production boost is mainly being driven by strong winter wheat performance. Favorable growing conditions and steady acreage are contributing to the higher outlook, offering cautious optimism for producers heading into the next marketing year.

U.S. Wheat Associates says its focus moving forward will remain on expanding export opportunities, strengthening relationships with international buyers, and ensuring U.S. wheat remains competitive in a challenging global market.

Related Stories
Ranchbot Monitoring Solutions provides remote water-monitoring technology to help ranchers manage livestock water more efficiently.
The House Agriculture Committee is set to debate a new, “skinny” Farm Bill at the end of February, according to a release from Committee Chairman Rep. Glenn “GT” Thompson.
The phone call injected optimism into the soybean market, but actual Chinese buying and its timing will ultimately determine the extent of U.S. agricultural export benefits.
Regulatory uncertainty could slow the growth of fiber and grain hemp unless implementation is delayed.
University of Nebraska-Lincoln President Dr. Jeffrey Gold talks about heart health and preventive care for viewers in rural communities.
Jeramy Stephens of National Land Realty breaks down current trends in the farmland real estate market and how landowners should consider water availability and its impact on land values as they plan for the year ahead.
Mexico has fallen behind by several hundred thousand acre-feet in required water deliveries to the United States, a shortfall that has had devastating consequences across the Rio Grande Valley.
Purdue University Professor of Agricultural Economics Dr. Jim Mintert shares a closer look at farmer sentiment and the key issues shaping the agricultural economy in January.
Stronger U.S.-Guatemala trade rules favor dependable, regionally integrated supply chains — rewarding execution and commitment over cost-only sourcing.

Tony St. James joined the RFD-TV talent team in August 2024, bringing a wealth of experience and a fresh perspective to RFD-TV and Rural Radio Channel 147 Sirius XM. In addition to his role as Market Specialist (collaborating with Scott “The Cow Guy” Shellady to provide radio and TV audiences with the latest updates on ag commodity markets), he hosts “Rural America Live” and serves as talent for trade shows.

LATEST STORIES BY THIS AUTHOR:

HHS Secretary Robert Kennedy calls on cattle producers to retain breeding cows while Ivomec receives emergency authorization to prevent New World screwworm.
SharkFarmer host Rob Sharkey takes us on a tour of the John Deere showcase on the trade show floor of CattleCon 2026 in Nashville.
The U.S. trade deal with Argentina creates new export opportunities for U.S. livestock and crop producers but also raises competitive concerns.
Policies aimed at ground beef prices may primarily reshape dairy incentives rather than deliver lasting consumer savings.
More flexible export financing could strengthen demand in emerging markets and support higher U.S. agricultural exports.
Incremental trade clarity with India could support select U.S. ag exports, but major gains hinge on future market-access talks.