As the wheat marketing year for 2025/26 begins, a combination of a weaker dollar, more relaxed balance sheet, and timely moisture through much of the U.S. wheat growing area has helped make U.S. wheat a more competitive option for importers worldwide.
In response to the competitive prices, new crop wheat sales have skyrocketed. Since April 17, sales have increased 170%, moving from 18% below the 2024/25 pace on April 17 to 60% ahead as of May 22, with 3.1 MMT of sales booked in just 5 weeks.
Many importers have increased their sales relative to last year, with key buyers such as Mexico, the Philippines, and Japan increasing their year-over-year purchases. Sales in swing markets such as Nigeria, Colombia, and Indonesia have seen significant growth, with increases exceeding 100%.
Wheat has also been traded into non-traditional destinations such as Mauritius, a small set of Islands in the Indian Ocean. According to records from the Federal Grain Inspection Service, Mauritius had not purchased wheat from the U.S. since 2008. For delivery in 2025/26, total sales as of June 4 reached 4.9 MMT, the strongest sales pace since 2013.
New crop sales were not the only beneficiary of the competitive prices. In April, old crop sales to Mexico reached a record 472,000 MT for the month, raising total exports to Mexico over 4.0 MMT, an all time high.
###
US Wheat Associates
