Wheat production in major exporters shrinks due to severe weather

Harsh weather has reduced wheat production in major exporters, reducing stocks that were already expected to reach a nine-year low and sending prices higher.

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

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

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

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