Stay ahead of the latest market and supply forecasts with MarketPULSE.
Domestic.
The 2025–2026 grain harvest is now largely complete, with final volumes in Western Australia and Victoria expected to wrap up shortly. The domestic market is scrambling to cover nearby demand as farmer selling remains very low.
Recent wheat export volumes have been strong for the season, though below earlier monthly levels. Barley, canola, chickpea and lentil exports were strong due to good offshore demand, with low prices slowing farmer selling.
Global.
US future markets have diverged over the recent period, with Chicago losing its premium crop to Kansas and dropping back towards contract lows. Kansas, MATIF and Australian wheat markets have remained mostly flat over the last few weeks. January USDA WASDE released this week had a bearish tone, with global production for the 2025-26 season roughly 4.9% higher than the previous season (45.4mmt) with exporters production up 10.9%. Northern hemisphere crop progress reports are on hold over the dormancy period with 42% of the US winter wheat crop currently experiencing drought conditions
Overall, the global market has plenty of wheat and buyers continue to buy hand to mouth whilst farmers continue to only sell what it is needed. Geo-political concerns will keep everyone nervous.
Follow us on socials for more MarketPULSE updates!
