WASDE Report

Wasde Report December 2025 (Commentary) Link to the original report Please Note: This text was summarized using generative AI. Readers should verify all details against the original source document. Wheat December’s report maintained consistent U.S. supply, use, and farm price for wheat. However, shifts occurred within individual categories, particularly in by-class revisions for feed and residual use, and exports. The global wheat forecast remained bullish with increases across supplies and consumption. Major contributions to supply surges came from record output in Canada and Argentina, with the EU also recording significant growth. Expanded exports were noted from Australia and Canada, while global ending stocks rose to 274.9 million tons showing the first year-to-year increase since 2019/20, primarily driven by boosts in output from key exporters. ...