Wine-Searcher reports from the Unified Wine and Grape Symposium that California is still awash with unsold wine, even as analysts debate whether a grape shortage could emerge by summer 2026. It describes a wager between SVB wine executive Rob McMillan and bw166’s Jon Moramarco, set against an industry backdrop where no one expects sales to rebound in 2026 and many expect stress, consolidation, and closures before a broader recovery.