“As indicated by the USDA’s crop progress report, spring wheat was rated 51% good to excellent, representing a drop of 1% from the week before. Additionally, harvest jumped 21% on the week to 62% complete, which was a faster than expected pace. For reference, the crop was 51% harvested at this time last year, and the average pace is 52%,” Doherty said. “Ukraine’s 2026 wheat harvest is said to be almost finished. Reportedly, 5 million hectares have been threshed, representing 97% of their planted area. An estimated 24.6 mmt. of wheat has been collected so far, and the average yield was 4.92 mt/hectare. For reference, the USDA is forecasting their total production at 25.4 mmt. According to Ukrainian President Zelensky, their nation’s seaborne grain exports are not fully blocked. Nevertheless, they are in talks with Russian President Putin to discuss safe transport of grain through the Black Sea.”