*WASDE Sees Tight Wheat Supplies in 2025/26, Global Prices May Rise* •As per the latest WASDE report by the USDA, the 2025/26 global wheat outlook points to lower supplies and ending stocks, alongside higher consumption and trade. Supplies are down by 1.2 million tons due to reduced opening stocks in Russia, despite increased production in the EU and India. Consumption is up by 1.8 million tons, led by higher demand in Nigeria, Sudan, and India, while global trade is set to rise by 1.3 million tons with stronger exports from the U.S. and EU. Ending stocks are projected to fall by 3 million tons, mainly in Russia, the U.S., Iraq, and Turkey. This tightening in global supply and firm demand will likely support international wheat prices in the coming weeks.