Global wheat production shrinks due to severe weather

Harsh weather has reduced wheat production in major exporting countries, reducing stocks that were already expected to reach a nine-year low and driving up prices.

Food production is also at risk due to drought affecting suppliers from Russia to Argentina.

While Argentina and Australia, the two largest exporters in the southern hemisphere, have lost millions of tons of wheat production due to drought and frost, the lack of moisture is affecting the plantings of the 2025 crops in Russia, Ukraine and the United States.

Bad weather has reduced global wheat stocks from their highest levels five years ago, sending grain prices soaring, according to US data.

Some farmers in exporting countries, such as Australia and Canada, have begun delaying sales in the hope of higher prices.