Wheat rose to 534.93 USd/Bu on July 1, 2025, up 1.17% from the previous day. Over the past month, Wheat's price has fallen 0.75%, and is down 7.93% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Wheat - values, historical data, forecasts and news - updated on July of 2025.

Interactive chart of historical daily wheat prices back to 1975. The price shown is in U.S. Dollars per bushel.

The monthly price of wheat (hard red winter) in the United States reached an all time high in May 2022, at over *** U.S. dollars per metric ton. The unprecedented price increase began in mid-2020, due to the impact of the Covid-19 pandemic, and was later exacerbated by the Russo-Ukrainian War in March 2022. Before the war, Russia and Ukraine were among the world's five largest wheat exporters, and around one third of all international wheat imports came from these two countries. The increase of 96 dollars per ton between February and March 2022 was the single largest price hike in U.S. history, and was only the second time that prices had exceeded 400 dollars - the first time this happened was due to the financial crisis of 2008. In the five years before the Covid-19 pandemic, the price of wheat generally fluctuated between 150 and 230 dollars per ton.

This statistic depicts the average annual prices for U.S. wheat (HRW) from 2014 through 2026*. In 2023, the average price for U.S. wheat (HRW) stood at 340 nominal U.S. dollars per metric ton.

Graph and download economic data for Global price of Wheat (PWHEAMTUSDM) from Jan 1990 to Apr 2025 about wheat, World, and price.

Get the latest insights on price movement and trend analysis of Wheat in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

In Q1 2025, the U.S. wheat market experienced notable price fluctuations shaped by shifting global dynamics and domestic supply-demand trends. January began with a slight price decline, largely driven by weak international demand and heightened competition from alternative suppliers. A stronger dollar and volatile freight rates further discouraged exports, while rising winter wheat acreage and stable domestic production tempered market sentiment. Export activity remained limited as buyers engaged in minimal, need-based purchases.

Corn fell to 419.27 USd/BU on July 1, 2025, down 0.29% from the previous day. Over the past month, Corn's price has fallen 4.33%, and is down 0.47% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Corn - values, historical data, forecasts and news - updated on July of 2025.

Interactive chart of historical daily corn prices back to 1959. The price shown is in U.S. Dollars per bushel.

Basis reflects both local and global supply and demand forces. It is calculated as the difference between the local cash price and the futures price. It affects when and where many grain producers and shippers buy and sell grain. Many factors affect basis—such as local supplies, storage and transportation availability, and global demand—and they interact in complex ways. How changes in basis manifest in transportation is likewise complex and not always direct. For instance, an increase in current demand will drive cash prices up relative to future prices, and increase basis. At the same time, grain will enter the transportation system to fulfill that demand. However, grain supplies also affect basis, but will have the opposite effect on transportation. During harvest, the increase in the supply of grain pushes down cash prices relative to futures prices, and basis weakens, but the demand for transportation increases to move the supplies.

For more information on how basis is linked to transportation, see the story, "Grain Prices, Basis, and Transportation" (https://agtransport.usda.gov/stories/s/sjmk-tkh6), and links below for research on the topic.

This data has corn, soybean, and wheat basis for a variety of locations. These include origins—such as Iowa, Minnesota, Nebraska, and many others—and destinations, such as the Pacific Northwest, Louisiana Gulf, Texas Gulf, and Atlantic Coast.

This is one of three companion datasets. The other two are grain prices (https://agtransport.usda.gov/d/g92w-8cn7) and grain price spreads (https://agtransport.usda.gov/d/an4w-mnp7). These datasets are separate, because the coverage lengths differ and missing values are removed (e.g., there needs to be a cash price and a futures price to have a basis price).

The cash price comes from the grain prices dataset and the futures price comes from the appropriate futures market, which is Chicago Board of Trade (CME Group) for corn, soybeans, and soft red winter wheat; Kansas City Board of Trade (CME Group) for hard red winter wheat; and the Minneapolis Grain Exchange for hard red spring wheat.

In the second quarter of 2025, U.S. durum wheat prices are forecasted to continue on their southward journey triggered by the stable global supply of the commodity and favorable weather conditions.

Snapshot img

Wheat Market Size 2025-2029

The wheat market size is forecast to increase by USD 87.6 billion at a CAGR of 4.6% between 2024 and 2029.

The market is experiencing significant shifts driven by several key trends and challenges. The growing vegan population represents a notable trend, as an increasing number of consumers adopt plant-based diets, leading to a higher demand for wheat-based food products and supplements. Simultaneously, the expansion of retail stores offering organic wheat-based supplements caters to the health-conscious consumer segment, further fueling market growth. The market plays a significant role in the global food industry, with its production and consumption influencing various sectors such as food manufacturing, food retail, and food service. However, the market faces challenges due to climate change and unpredictable weather patterns. Extreme weather conditions, such as droughts and heavy rainfall, can negatively impact wheat production, leading to supply chain disruptions and price volatility.
These challenges necessitate strategic planning and adaptability from market players to ensure a consistent supply of high-quality wheat products and maintain competitiveness. Companies seeking to capitalize on market opportunities and navigate challenges effectively must focus on innovation, sustainability, and risk management strategies. Durum wheat, a key component in pasta and craft beer production, is also gaining attention, and will subsequently help with market expansion in the coming years. 

What will be the Size of the Wheat Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free Sample

The market encompasses various aspects, including gluten-free wheat, grain drying, and farming practices. Farmers employ precision agriculture to optimize wheat production, while grain drying ensures optimal moisture levels before storage in silos. Flour fortification enhances nutritional value, and flour milling technology, such as roller mills and stone mills, transforms wheat into various products like pasta and bread. Grain transportation and handling are crucial components, with grain elevators facilitating efficient movement. Grain inspection ensures grain quality, and certification guarantees adherence to industry standards. Wheat-based products, including bakery items, require careful flour blending and gluten content control. Wheat industry trends lean towards organic and non-GMO production, sustainability, and innovation in flour milling technology. The market is expected to witness notable expansion due to its increasing use in various industries, including food and animal feed.
Grain cleaning and grain storage are essential for maintaining grain quality and mitigating wheat price volatility. Pastry making and bread making continue to be significant applications, with the bakery industry driving demand for high-quality wheat and flour. Flour milling technology advances, such as grain inspection and grain handling systems, contribute to improved grain quality control. The market outlook remains positive, with ongoing research and development in wheat farming practices and wheat substitutes.

How is this Wheat Industry segmented?

The wheat industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Application

  Human
  Feed


Type

  Hard red winter
  Hard red spring
  Soft red winter
  Others


Distribution Channel

  Direct sales (B2B)
  Retail stores
  Online platforms


Geography

  North America

    US


  Europe

    France
    Germany
    Russia
    UK


  APAC

    China
    India
    Indonesia
    Pakistan
    South Korea


  Rest of World (ROW)

By Application Insights

The human segment is estimated to witness significant growth during the forecast period. Wheat, a significant global staple food, is renowned for its high carbohydrate content, primarily in the form of starch. Beyond its carbohydrate value, wheat offers essential nutrients, including protein, vitamins, soluble fiber, and phytochemicals. Consequently, wheat-based foods are popular worldwide, catering to both human consumption and industrial applications. These include refined wheat flour, pasta, noodles, beverages like wheat beer and malted milk, and various other processed goods. Wheat farming involves the use of fertilizers, herbicides, and water for optimal growth. Diseases and pests pose challenges to production, necessitating ongoing research and innovation. Winter and spring wheat varieties are cultivated, with spring wheat being more commonly used for food products due to its higher protein content.

Wheat proce

Graph and download economic data for Producer Price Index by Commodity: Farm Products: Soft White Wheat (WPU01210103) from Jan 1947 to May 2025 about wheat, agriculture, white, commodities, PPI, inflation, price index, indexes, price, and USA.

Get the latest insights on price movement and trend analysis of Milling Wheat in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

Get the latest insights on price movement and trend analysis of Durum Wheat in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

Graph and download economic data for Producer Price Index by Commodity: Processed Foods and Feeds: Wheat Flour (WPU021203) from Jan 1947 to May 2025 about flour, wheat, processed, food, commodities, PPI, inflation, price index, indexes, price, and USA.

Graph and download economic data for Producer Price Index by Commodity: Farm Products: Hard Amber Durum Wheat (WPU01210105) from Dec 1984 to May 2025 about wheat, agriculture, commodities, PPI, inflation, price index, indexes, price, and USA.

United States - Producer Price Index by Commodity: Processed Foods and Feeds: Wheat Flour was 241.41900 Index Jun 1983=100 in May of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Commodity: Processed Foods and Feeds: Wheat Flour reached a record high of 304.16300 in May of 2022 and a record low of 85.40000 in September of 1986. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Commodity: Processed Foods and Feeds: Wheat Flour - last updated from the United States Federal Reserve on June of 2025.

United States - Export Price Index (End Use): Wheat, Rice and Other Food Grains was 214.70000 Index 2000=100 in May of 2025, according to the United States Federal Reserve. Historically, United States - Export Price Index (End Use): Wheat, Rice and Other Food Grains reached a record high of 377.20000 in March of 2008 and a record low of 77.60000 in June of 1987. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Export Price Index (End Use): Wheat, Rice and Other Food Grains - last updated from the United States Federal Reserve on July of 2025.

United States - Export Price Index (End Use): Wheat was 209.80000 Index 2000=100 in May of 2025, according to the United States Federal Reserve. Historically, United States - Export Price Index (End Use): Wheat reached a record high of 428.10000 in March of 2008 and a record low of 73.80000 in March of 1991. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Export Price Index (End Use): Wheat - last updated from the United States Federal Reserve on June of 2025.