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The November 2025 USDA WASDE raised global wheat supplies, with combined beginning stocks and production rising 11.7 million tonnes to 1090.3 million tonnes. Australian production was raised to 36 million tonnes and exports to 26 million tonnes, and output estimates rose for Argentina, Canada, the EU, Kazakhstan, Russia and the US.
Global consumption and trade also rose, and ending stocks were raised 7.4 million tonnes to 271.4 million tonnes.
Larger global wheat supplies and higher ending stocks add bearish pressure on wheat prices across export markets.
ukragroconsult.com2025年11月18日在过去 1,006 次看跌的报告事件之后，小麦(SRW) 在 5 个交易日内中位数变动 +0.0%（50% 上涨；中间一半区间为 -1.6% 至 +1.8%），20 个交易日内为 +0.3%。
各商品基准价相对事件前最后收盘价的变动。历史数据汇总同类过往事件；仅描述已发生的情况，不代表未来走势。不构成投资建议。
