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.

Wheat fell to 562.25 USd/Bu on July 3, 2025, down 0.31% from the previous day. Over the past month, Wheat's price has risen 3.50%, but it is still 4.78% lower than a year ago, 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 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.

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.