Global Wheat Output Headed for 56-Year Low as Drought Hits Every Major Exporter

Drought across winter wheat regions will cut 2026/27 global production to a 56-year low, Reuters reports. The USDA kept U.S. exports at 775 million bushels — down 15 percent year over year. Russia, Ukraine, and Canada offer no relief: seaport attacks, hailstorms, and flat capacity deepen the squeeze. No single exporter can fill the gap.