2025/2026 Year-End Numbers Reflect Solid Wheat Sales

The 2025/2026 marketing year closed on May 31, 2026, and U.S. wheat export sales finished the year on a strong note, providing a buffer of support for farm families during a year of low farmgate prices. Final export inspections hit 23.7 million metric tons (MMT) or 871 million bushels, representing a nearly 15% increase year-over-year and the highest exports since the 2020/2021 marketing year.

The volume is impressive, but the numbers alone do not tell the full story. Just as important as how much wheat was sold was where those sales originated. Increases in wheat exports to both core and swing markets reflect the reputation and value of U.S. wheat in the global marketplace.

“U.S. wheat continued to move steadily into global markets despite a year marked by geopolitical uncertainty, volatile freight costs and intense competition from other exporting origins,” said Brian Liedl, U.S. Wheat Associates (USW) vice president of overseas operations. “In a year where there were record or near-record crops in almost every major wheat exporting country, U.S. wheat found its place in the market.”

A Balanced Year

The mix of sales to both core and swing markets in the 2025/2026 marketing year reflects the resilience of the U.S. wheat export program. At the beginning of the year, the USDA projected exports at 21.8 MMT (801 million bushels) and revised that estimate several times as commercial sales continued to outpace the prior year.

By the end of the year, more than 55 countries had purchased U.S. wheat, reflecting strong early-season demand and continued sales to a mix of core, emerging and swing markets.

“What made this marketing year notable is that both core and swing markets performed well at the same time,” Liedl said. “Core markets continued to purchase through the second half of the marketing year when U.S. prices appreciated significantly and kept our supply chains moving. At the same time, several re-emerging and price-sensitive markets increased purchases. That is not a coincidence; it is a return on investment that plays out slowly and then all at once.”

The strong performance of U.S. wheat exports during the 2025/2026 marketing year was especially evident for hard red winter (HRW) wheat, the class predominantly grown in Kansas. Total HRW export sales reached 8.67 MMT, a 58% increase over the previous marketing year.

Mexico remained the largest buyer of HRW wheat, purchasing 2.26 MMT, up 44% from the previous year. Other key markets for Kansas-grown wheat also posted significant gains, including Japan, South Korea and Colombia. Several emerging and price-sensitive markets showed particularly strong growth, with HRW sales to Nigeria increasing 221%, Venezuela increasing 118% and Indonesia increasing 74.6% compared to the previous marketing year.

These numbers highlight the importance of maintaining a diverse customer base. While long-standing markets such as Mexico, Japan and South Korea continue to provide a reliable foundation for demand, growing sales in markets like Nigeria and Indonesia demonstrate the value of continued investment in export market development. This is proof of the global demand for the milling and baking qualities that Kansas wheat delivers.

The growth in HRW exports reflects years of relationship-building, technical support and customer education conducted by U.S. Wheat Associates. As global buyers seek consistent quality and reliable supply, Kansas wheat is well positioned to meet the needs of millers and bakers around the world.

Looking Forward to 2026/2027

Overall, the 2025/2026 marketing year underscored the value of U.S. wheat in an increasingly crowded and complex global marketplace. Despite increases in global production and geopolitical pressures, customers continued to rely on U.S. wheat exports to meet their growing needs.

“The 2025/2026 marketing year serves as a reminder that even in a competitive and uncertain environment, American wheat farmers, supported by U.S. wheat, are finding opportunities to grow exports and deliver value across the world,” said Luke Muller, USW market analyst. “Maintaining this momentum will depend on continuing to strengthen trade relationships in both core and emerging markets and continuing to adapt to shifting global supply dynamics.”

As the calendar flips to June, the USDA has already reported more than 3.0 MMT (110 million bushels) of sales for the 2026/2027 marketing year. All eyes are currently on the progress of the 2026 wheat crop as the combines have started cutting in the southern United States. As harvest progresses, U.S. Wheat Associates will continue its work to position producers to take advantage of market opportunities with the right mix of customers, in the right places, at the right time.