Evgeny Karabanov forecasts Kazakhstan's wheat stock level to be 2-2.5 million tons by September 2026. The country's 2025 wheat harvest was approximately 19 million tons. Karabanov notes that record export rates, around 1.5 million tons per month, have reduced stocks. Wheat exports increased by 17% to 6 million tons, with food and feed flour exports totaling 9.7 million tons from September 2025 to March 2026.
The Grain Union of Kazakhstan reports an 8% growth in food flour exports and a 30% growth in feed flour exports. Potential government intervention, including a reduced VAT refund and possible export duty, may impact wheat prices.