South America’s wheat production is also surging. Argentina’s 2025/26 harvest is forecast at a record 27.5 million MT (versus ~18.5 MMT in 2024), yielding an exportable surplus of about 17.5 million MT. Argentina now regularly ships large volumes of wheat to Asia and Africa – key buyers include Indonesia, Bangladesh, Vietnam, Morocco, Angola and Thailand. Brazil (with a near-record 8 MMT crop in 2024) exported about 2.83 million MT in 2024, and smaller Mercosur suppliers (e.g. Uruguay) also contribute. In short, Europe and South America together offer complementary, year-round supply: European crops support northern hemisphere demand, while South American harvests (Argentine and Brazilian wheat) cover the Southern Hemisphere season and serve global markets.