Wheat rose to 549.54 USd/Bu on July 22, 2025, up 1.34% from the previous day. Over the past month, Wheat's price has fallen 0.58%, but it is still 1.25% higher 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.

The article discusses the ongoing decline in wheat markets amid harvest progress, export trends, and geopolitical influences impacting the industry.

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

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

The U.S. dominates in the global wheat trade. In 2014, the U.S. exported 25,646 thousand tons of wheat totaling 7,781 million USD, 26% under the previous year. Its primary trading partner on the global wheat market was Japan, where it supplied 12% of its total wheat exports in value terms, accounting for 46% of Japan's total imports.

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.

The decline in revenue for industry farmers during the current period has primarily been driven by high global stocks and fierce international competition, compounded by climate volatility and challenging trade dynamics. High stocks of wheat and coarse grains are pressuring prices downward despite record domestic food use and demand for animal feed. Intense export competition from regions like the EU, Russia and Canada exacerbates this issue, making it difficult for US producers to maintain profit. Compounding the problem are climate and weather volatility, with increased instances of droughts and heat waves reducing yields and hindering production. Trade headwinds, including retaliatory tariffs and a strong US dollar, are also constraining exports, diminishing the competitiveness of US grain globally. Overall, industry revenue has dropped at a CAGR of 1.2% since 2020 to reach an expected $13.2 billion after a decrease of 6.3% in 2025. In addition to these external pressures, input costs remain a significant challenge for industry farmers. The persistently strong prices for fertilizers, pesticides and seeds, alongside increased agricultural wages and labor shortages, have elevated production expenses, straining profit as grain prices drop. Smaller and mid-sized farms are particularly affected, facing negative returns and low cash receipts. Some operations may be forced into consolidation if they are unable to absorb high costs. While some input prices, such as fuel and agrochemicals, have eased from huge spikes earlier in the current period, overall expenses continue to surpass commodity prices, eroding financial stability and forcing many producers to seek USDA program assistance to mitigate these challenges. Looking ahead, the wheat, barley, sorghum, oats and rye farming sector is expected to gradually recover as global stocks stabilize and demand grows, expanding at a CAGR of 0.9% to reach $13.8 billion in 2030. Easing supply chain disruptions and stabilizing input costs are expected to support this recovery. Future weakening of the US dollar stands to improve export competitiveness, offering some optimism for US producers. However, the recovery will vary across segments, with those benefiting from strong domestic demand or value-added products rebounding more quickly than those reliant on bulk exports.

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.

Learn about the projected decrease in demand for wheat in the United States over the next decade and how it will impact market volume and value.

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.

In June 2023, the Durum Wheat price in China reached $376 per ton (CIF), showing a decrease of 2% compared to the previous month.

In the marketing year of 2024/2025, the global production volume of wheat amounted to almost 793 million metric tons. This was an increase compared to the previous marketing year. Wheat in the U.S. The United States produces a large amount of wheat each year, a great deal of which is subsequently exported. In 2022/23, the country imported about 122 million bushels of wheat, while exporting 758 million bushels. North Dakota, Kansas, and Montana were the leading U.S. states in terms of wheat production in 2023. Post Shredded Wheat Post Shredded Wheat is a brand of breakfast cereal, made from whole wheat, owned by the American company, known as Post Consumer Brands. The brand comes in many varieties, including Frosted Shredded Wheat, Original Big Biscuit, and Original Spoon Size. When surveyed in 2020, roughly six and a half million American consumers consumed between one and four portions of regular Post Shredded Wheat for breakfast over the last seven days.

Wheat was the most consumed grain type in Ukraine. In the marketing year 2023/24, the country's domestic consumption of wheat was measured at *** million metric tons. In the following 12-month period, the consumption volume of wheat in Ukraine was forecast to drop by 100,000 metric tons. A significant decline was recorded in corn consumption, from *** million metric tons in the marketing year 2021/22 to *** million metric tons in the marketing year 2023/24.

Corn rose to 399.78 USd/BU on July 23, 2025, up 0.13% from the previous day. Over the past month, Corn's price has fallen 3.96%, and is down 4.36% 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.

The average annual wheat price in the U.S. is forecast to drop by 2% y-o-y to $250 per ton in 2022, falling on reduced domestic consumption coupled with stable supply worldwide. The market balance will be buoyed by production gains in Argentina and the EU that will offset decreasing output in Brazil and Paraguay.

The global Falling Number Meters market is experiencing robust growth, driven by increasing demand for high-quality grain and stringent quality control measures across the food processing industry. The market, estimated at $150 million in 2025, is projected to exhibit a Compound Annual Growth Rate (CAGR) of 7% from 2025 to 2033. This growth is fueled by several key factors, including the rising global population and increasing consumption of grain-based products. Furthermore, advancements in Falling Number Meter technology, leading to more accurate and efficient testing, are contributing to market expansion. The adoption of automated and digitalized testing solutions is also a key driver, streamlining workflows and improving data analysis within flour mills and research laboratories. Major players like Infitek, Graintec, and Perten Instruments are actively engaged in research and development, introducing innovative products and services to enhance market penetration. The market segmentation is driven by various factors, including technology type, application, and end-user. Different regions contribute varying shares of the global market, with North America and Europe currently holding significant shares due to established food processing industries and stringent quality standards. Despite the promising outlook, the market faces challenges such as the high initial investment cost associated with Falling Number Meters and the potential for technological obsolescence. However, the long-term benefits of improved grain quality control and reduced food waste are expected to outweigh these challenges, ensuring sustained market growth. The competitive landscape is characterized by the presence of both established players and emerging companies, leading to increased innovation and the development of more affordable and advanced Falling Number Meters. The market is likely to witness strategic partnerships and mergers and acquisitions in the coming years, further shaping the competitive dynamics. This continuous technological advancement and growing demand for precise quality control will propel market expansion throughout the forecast period.

Agricultural product wholesalers contend with volatile crop yields and global commodity prices, changing government agricultural policies and changing customer demands. Over the five years through 2024, wholesalers’ revenue is forecast to grow at a compound annual rate of 2.9% to reach €489 billion. The Russia-Ukraine conflict has introduced severe disruption to global commodity supply chains, driving huge price rises for wheat, other grains and fertilisers. In the EU, the average price of agricultural products soared by 24% between 2021 and 2022, according to Eurostat - cereal price inflation of over 40% was a key driver of this. Put off by sky-high prices, major buyers of cereal-based feedstuffs have sought out alternatives, contributing to a drop in demand and driving a sharp drop in prices (-18.4%) in the UK over the year through September 2023, as shown by data from the Office for National Statistics. In 2024, wholesalers’ sales will be dampened by low business sentiment, but high prices will keep revenue growing – it’s expected to climb by 0.8%. Wholesaling industries are typically characterised by a narrow profit margin, as they seek to ensure their prices are low enough to prevent wholesale bypass. To raise additional revenue and generate profit, wholesalers turn to providing value-added services like customised packaging and labelling solutions, rigorous quality control and traceability systems to provide assurance of the product journey. Over the five years through 2029, wholesalers’ revenue is anticipated to swell at a compound annual rate of 2.7% to €559 billion. Agricultural policies across many European countries are decoupling payments and output in favour for financial incentives for rewilding schemes and the creation of public goods, to the detriment of wholesalers. Consumer preferences for sustainable produce will intensify; wholesalers can capitalise on this by offering products aligned with these policies and preferences.

Wheat markets are experiencing a downturn due to declining exports and new tariffs. Discover how these factors are affecting prices and the future market outlook.

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