In 2024, after two years of growth, there was significant decline in the U.S. wheat market, when its value decreased by -27.5% to $7.8B. Over the period under review, consumption saw a noticeable setback. Over the period under review, the market reached the maximum level at $11.6B in 2012; however, from 2013 to 2024, consumption remained at a lower figure.

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.

After three years of growth, the North American wheat and meslin flour market decreased by -7.5% to $15.4B in 2024. The total consumption indicated a pronounced increase from 2012 to 2024: its value increased at an average annual rate of +2.4% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $16.7B in 2023, and then declined in the following year.

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

In the 2024/2025 marketing year, the top consumers of wheat globally were China, India, and the European Union. China consumed about 151 million metric tons of wheat that year. Wheat consumption worldwide is slowly increasing, growing by about eight percent since 2018/2019. Wheat production and trade Not only do they consume the most wheat, but China, the EU, and India are also the leading producers of wheat worldwide. Chine led global production, with about 136.6 million metric tons in 2023/24. Despite being a top producer, China also imports a great deal of wheat. In 2022, China imported about 3.8 billion U.S. dollars’ worth of wheat. Egypt has been one of the leading importer of wheat worldwide for the last several years. Wheat price Prices around the world have risen as of 2022. Many believe that the Russian invasion of Ukraine is to blame for the rising wheat prices and others believe it is the speculation of an impending food crisis that is driving up demand. The price of the most common variety of wheat grown in the U.S., hard red winter wheat, reached an all-time high in May 2022, reaching over 522 dollars per metric ton. Globally, the real household income is expected to decline by about 1.57 percent due to the increased cost of wheat and corn. Some countries will experience a decline of over five percent, showing the real impact that growing prices have on consumers across the world.

About this dataset

Context

The dataset illustrates the median household income in Wheat Ridge, spanning the years from 2010 to 2023, with all figures adjusted to 2023 inflation-adjusted dollars. Based on the latest 2019-2023 5-Year Estimates from the American Community Survey, it displays how income varied over the last decade. The dataset can be utilized to gain insights into median household income trends and explore income variations.

Key observations:

From 2010 to 2023, the median household income for Wheat Ridge increased by $21,546 (32.62%), as per the American Community Survey estimates. In comparison, median household income for the United States increased by $5,602 (7.68%) between 2010 and 2023.

Analyzing the trend in median household income between the years 2010 and 2023, spanning 13 annual cycles, we observed that median household income, when adjusted for 2023 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS), experienced growth year by year for 10 years and declined for 3 years.

Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2019-2023 5-Year Estimates. All incomes have been adjusting for inflation and are presented in 2022-inflation-adjusted dollars.

Years for which data is available:

• 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022, 0223

Variables / Data Columns

• Year: This column presents the data year from 2010 to 2023
• Median Household Income: Median household income, in 2023 inflation-adjusted dollars for the specific year
• YOY Change($): Change in median household income between the current and the previous year, in 2023 inflation-adjusted dollars
• YOY Change(%): Percent change in median household income between current and the previous year

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Wheat Ridge median household income. You can refer the same here

In 2024, overseas shipments of wheat gluten increased by X% to X tons, rising for the second year in a row after three years of decline. In general, exports recorded a strong increase. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2024, the growth of the exports failed to regain momentum.

Climate change is likely to increase the frequency of drought and more extreme precipitation events. The objectives of this study were i) to assess the impact of extended drought followed by heavy precipitation events on yield and soil organic carbon (SOC) under historical and future climate, and ii) to evaluate the effectiveness of climate adaptation strategies (no-tillage and new cultivars) in mitigating impacts of increased frequencies of extreme events and warming. We used the validated SALUS crop model to simulate long-term maize and wheat yield and SOC changes of maize-soybean-wheat rotation cropping systems in the northern Midwest USA under conventional tillage and no-till for three climate change scenarios (one historical and two projected climates under the Representative Concentration Path (RCP) 4.5 and RCP6) and two precipitation changes (extreme precipitation occurring early or late season). Extended drought events caused additional yield reduction when they occurred later in the season (10–22% for maize and 5–13% for wheat) rather than in early season (5–17% for maize and 2–18% for wheat). We found maize grain yield declined under the projected climates, whereas wheat grain yield increased. No-tillage is able to reduce yield loss compared to conventional tillage and increased SOC levels (1.4–2.0 t/ha under the three climates), but could not reverse the adverse impact of climate change, unless early and new improved maize cultivars are introduced to increase yield and SOC under climate change. This study demonstrated the need to consider extreme weather events, particularly drought and extreme precipitation events, in climate impact assessment on crop yield and adaptation through no-tillage and new genetics reduces yield losses.

The US crop services industry is currently navigating a period of growth in response to several key market dynamics, particularly within the agricultural sector. The rising demand for organic crops, driven by consumers seeking sustainable, chemical-free food options, is increasing revenue for service providers offering specialized support for organic farming practices. Meanwhile, in the broader crop market, there are mixed impacts. Wheat prices have seen an upward trend due to reduced yields in the EU and export restrictions from Russia, prompting wheat growers to increase investment in soil preparation and crop spraying services, thereby boosting demand. Conversely, the crop markets for corn and soybeans have faced pressure from increased production in Brazil, pressuring prices and encouraging growers to save on costs, tempering otherwise solid service revenue growth. Overall, industry revenue has increased at a CAGR of 0.1% in the current period, reaching $36.0 billion after a drop of 2.1% in 2025. Labor costs significantly influence the crop services industry, as agricultural wages have outpaced those in non-farm sectors due to a shortage of skilled workers. This increase in labor expenses, compounded by restrictive immigration policies, poses a challenge to maintaining profitability. Although revenue has risen, profit has declined as many service providers find it difficult to transfer rising wages and high purchase costs to their clients, who are themselves contending with reduced crop receipts. The pressure of keeping service prices competitive amid rising operational costs is forcing providers to implement cost-control measures such as mechanization and worker training programs to sustain profitability and continue delivering essential services to the agricultural sector. Looking ahead, the crop services industry is bracing for a period of revenue declines amid challenges in sustaining profit. With record-level crop yields forecasted through 2025, there will be increased opportunities for agricultural services to enhance harvesting efficiency and optimize yields. However, these production gains will also push crop prices downwards due to heightened global stock levels, greatly constraining farmers' spending on industry services and leading to declining revenues. Beyond 2025, planted acreage is expected to taper off, though crop prices will remain low as well, depressed by increasing international competition. Additionally, climate change and sustainability initiatives are expected to play critical roles in providing new sources of demand for adaptive and resilient farming solutions. Service providers focusing on innovation and aligning with these emerging needs—particularly within sustainable practices—can position themselves as essential partners and better weather the negative effects that dropping crop prices will have. Industry revenue is estimated to decrease at a CAGR of 1.6% to reach $33.3 billion in 2030.

In 2020, Tunisia imported 194 million U.S. dollars of wheat from Ukraine. The value of wheat imports declined compared to the previous two years, after peaking at 221 million U.S. dollars in 2018. In 2020, Ukraine was Tunisia's leading wheat supplier.

The Flour Milling industry manufactures milled products, including various flours, rice and malt. Despite a significant shift away from wheat flour consumption, demand for products has grown as rising health consciousness has driven consumers toward gluten-free and whole-grain foods. Also, the pandemic sparked a trend in at-home baking, attracting more consumers. At the same time, the price of certain input commodities has increased in recent years, raising operational costs. Imports into the Flour Milling industry have also risen. However, revenue is expected to inch down at a CAGR of 0.1% over the past five years to $21.6 in 2024, including a 4.8% dip in 2024 alone. Profit, meanwhile, remained relatively stagnant during the same timeframe, representing an estimated 6.9% of revenue in 2024. Stay-at-home orders associated with the pandemic spurred an interest in at-home baking. The sudden boost in demand for flour from individual consumers and the significant loss in demand from commercial consumers like restaurants temporarily disrupted industry supply chains but eventually yielded a rise in demand. Operators have also responded to a widespread shift in consumer preferences toward healthier and gluten-free options by increasing the production of rice, almond and hempseed flour varieties, appealing to a niche market of consumers with gluten-free products. The industry's most prominent players have been consolidating to strengthen efficiency and produce products at maximum capacity to remain competitive. Moving forward, the prices of several agricultural commodities, including wheat and corn, are expected to remain relatively stable. Low volatility in input prices prevents operators from hiking prices for consumers, limiting revenue and putting pressure on profit. While import penetration is expected to fall, a drop in wheat flour consumption will constrain revenue. Shifting consumer preferences will continue to encourage consolidation and force flour milling companies into more niche markets to remain competitive. Overall, revenue is estimated to remain constant, growing at a CAGR of 0.0% over the next five years to $21.7 billion in 2029.

The Latin American durum wheat market expanded significantly to $X in 2022, with an increase of X% against the previous year. Over the period under review, consumption posted a remarkable increase. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

In June 2022, the import value of durum wheat into Tunisia amounted to around 92 million Tunisian dinars (roughly 29 million U.S. dollars). The import trade declined significantly compared to the previous month. Moreover, in February 2022, the value of durum wheat imported into the country peaked at almost 241 million Tunisian dinars (77 million U.S. dollars).

In June 2022, the value of soft wheat imported into Tunisia amounted to around 49 million Tunisian dinars (roughly 16 million U.S. dollars). The import trade declined significantly compared to the previous month. In May 2022, the value of soft wheat imported into the country peaked at almost 218 million Tunisian dinars (70 million U.S. dollars).

In 2024, after three years of growth, there was decline in the Latin American wheat bran market, when its value decreased by -2.5% to $2.9B. The market value increased at an average annual rate of +1.7% from 2012 to 2024; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $3B in 2023, and then declined in the following year.

The North American wheat bran market amounted to $1.1B in 2024, picking up by 4.2% against the previous year. In general, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $1.4B. From 2015 to 2024, the growth of the market failed to regain momentum.

The U.S. market for cereal grain products (including corn flakes) declined to $4.7B in 2024, waning by -2.1% against the previous year. In general, the total consumption indicated tangible growth from 2012 to 2024: its value increased at an average annual rate of +4.5% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -1.1% against 2021 indices.

This statistic shows the world's leading cotton producing countries in crop year 2022/2023. In that year, cotton production in China amounted to around 6.7 million metric tons.

Cotton production

Cotton is a natural plant fiber which grows around the seed of the cotton plant. Fibers are used in the textile industry, where they are the starting point of the production chain. First, the cotton fiber is obtained from the cotton plant and then spun into yarn. From there, the cotton yarn is woven or knitted into fabric.

The use of cotton has a long tradition in the clothing industry due to its desirable characteristics. Cloths made of this fiber are moisture-absorbent, have a good drape and are known for their long durability. Consumers continue to purchase large amounts of cotton products as they prefer cotton’s light and comfortable qualities. Products made out of cotton range from highly absorbent bath towels over bed linens to basic clothes such as t-shirts, underwear or socks.

The top cotton producing countries include China, India and the United States respectively. Within the United States, the Southern states traditionally harvest the largest quantities of cotton. This region was formerly known as the ‘Cotton Belt’, where cotton was the predominant cash crop from the 18th to the 20th century. Due to soil depletion and social and economic changes, cotton production has declined and acres in this region are now mainly used for crops such as corn, soybeans and wheat.