Top wheat exporters in 2026: who ships the world's wheat
5 min read
Seven countries ship over 80% of the world's traded wheat. Here is the 2026/27 ranking based on the latest USDA forecast, what changed this season and what it means for buyers of Black Sea wheat.
World wheat trade in the 2026/27 season is forecast at 208.97 million tonnes, according to the USDA WASDE report of October 2026. Seven countries account for 173.91 million tonnes of that, or about 83%. Russia remains the largest exporter, even after the USDA cut its forecast to the lowest level in five years.
Ranking of wheat exporters, 2026/27
| Rank | Country | Exports, million t | Share of world trade |
|---|---|---|---|
| 1 | Russia | 40.0 | 19.1% |
| 2 | European Union | 31.0 | 14.8% |
| 3 | Canada | 30.5 | 14.6% |
| 4 | Australia | 23.5 | 11.2% |
| 5 | United States | 20.4 | 9.8% |
| 6 | Argentina | 16.0 | 7.7% |
| 7 | Ukraine | 12.5 | 6.0% |
| Other countries | 35.1 | 16.8% | |
| World | 209.0 | 100% |
Source: USDA WASDE, 9 October 2026. The marketing year runs from July to June. Figures are forecasts and change with each monthly report.
What changed this season
- Russia. The USDA cut Russia's export forecast by 3 million tonnes to 40 million. The share of the largest supplier is shrinking, which leaves more room for other origins.
- Canada and Argentina. Both forecasts were raised by 0.5 million tonnes, to 30.5 and 16 million tonnes.
- United States. Exports are expected at 20.4 million tonnes, down from 21.1 million in the previous estimate.
- Ukraine, the EU and Australia. Forecasts are unchanged at 12.5, 31 and 23.5 million tonnes.
- World trade was cut by 2.8 million tonnes. Global production is forecast at 822.4 million tonnes and ending stocks at 276 million.
Black Sea wheat in the global picture
Russia and Ukraine together ship 52.5 million tonnes, a quarter of world wheat trade. Most of this wheat goes by sea from Black Sea and Azov ports to North Africa, the Middle East and Asia. Its main advantage is short voyages to the Mediterranean and competitive FOB prices.
For buyers, a smaller Russian programme means more attention to alternative Black Sea origins, Ukraine and Romania and Bulgaria within the EU figure. For sellers, it is a chance to reach buyers who previously worked with one origin only.
What to watch
- monthly WASDE revisions, especially for Russia, the EU and Australia;
- the Southern Hemisphere harvest in Australia and Argentina in November–January;
- freight rates from Black Sea ports and shipping conditions in the region;
- import demand from the largest buyers in North Africa and the Middle East.
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