S&P 5007,722.72▲0.7% Nasdaq27,190.86▲1.2% Dow51,176.96▲0.5% Russell 2K2,832.89▲0.9% 10-Yr5.28%+4bp VIX15.31−1.08 WTI$91.26▼1.7% Gold$4,172.10▼0.7% EUR/USD1.126▼0.6% BTC$85,229▼1.4% Nikkei68,957▲3.3%
At close · Fri, Oct 2, 2026
Daily Market Updates.

Commodities

Home›Commodities›Agriculture›Nigeria to see wheat, rice and corn output fall in 202…

Nigeria to see wheat, rice and corn output fall in 2026-27

Wheat production is projected to drop 8% to 120,000 tonnes, while wheat imports for 2026-27 are estimated at 5.6 million tonnes, about 5% lower than 2025-26.

Nigeria is expected to produce less wheat, rice and corn in 2026-27, according to a report from the Foreign Agricultural Service of the US Department of Agriculture, citing rural insecurity, higher input costs and reduced incentives for farmers.

The FAS estimated wheat output at 120,000 tonnes, down 8% from last year, and forecast consumption to decline as lower imports and weaker consumer purchasing power reduce demand.

Imports for 2026-27 are estimated at 5.6 million tonnes, about 5% below the 2025-26 projection, with higher import prices cited as a key driver.

The report also pointed to pressures on producers, including higher operational expenses and volatile or depressed farmgate prices, as well as shipping bottlenecks and higher logistics costs affecting Black Sea shipments from Russia, Nigeria’s second-largest wheat supplier.

Latest closeWheat $683.00 ▲0.0%|Corn $497.25 ▼1.0%

More like this

Sources

Get the close, explained.

One email every trading day: what moved, why it moved, and what's on deck tomorrow. Read in 3 minutes.

Free. Unsubscribe anytime.