Wheat grows on the Canadian prairies.

Big global wheat crop expected to pressure prices

World wheat stocks could climb to 271 million tonnes by the end of 2025-26, up from 264 million tonnes at the end of 2024-25

Reading Time: 3 minutes Analysts say a larger than expected global crop of wheat means there will be plenty to go around in 2025-26.










Wheat crops damaged by drought are seen during an annual winter wheat tour, near Colby, Kansas, U.S., May 13, 2025. Photo: Reuters/Emily Schmall

‘Amber waves of grain’ recede in America’s heartland as wheat farmers struggle

Midwestern farmers abandoning wheat crops as profits recede, weather challenges

The Great Plains have long been celebrated for the “amber waves of grain” in the popular hymn “America the Beautiful.” The region’s states produce most of the U.S.-grown crop of hard red winter wheat, favored by bakers for bread. But with prices hovering around $5 (C$6.86) per bushel, U.S. wheat farmers have reached an inflection point, with many forced to either lose money, feed wheat to cattle or kill off the crop.