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.

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

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.

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.

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

The developing food crisis in wake of the Russian invasion of Ukraine and the COVID-19 pandemic affects countries around the globe differently. For many households, the rising prices of wheat and corn have a significant impact on their real income. It is estimated that Armenians will see their real household income shrink by *** percent followed by Georgians and Kyrgyzstanis. The global average amounts to a decline of **** percent.

This statistic depicts the average annual prices for U.S. wheat (HRW) from 2014 through 2026*. In 2024, the average price for U.S. wheat (HRW) stood at 269 nominal U.S. dollars per metric ton.

In 2024, the global wheat market decreased by -3.8% to $258.7B, falling for the second year in a row after two years of growth. The market value increased at an average annual rate of +1.1% from 2012 to 2024; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, consumption reached the peak level of $289.4B. From 2023 to 2024, the growth of the global market remained at a lower figure.

A "spread" can have multiple meanings, but it generally implies a difference between two comparable measures. These can be differences across space, across time, or across anything with a similar attribute. For example, in the stock market, there is a spread between the highest price a buyer is willing to pay and the lowest price a seller is willing to accept.

In this dataset, spread refers to differences in prices between two locations, an origin (e.g., Illinois, Iowa, etc.) and a destination (e.g., Louisiana Gulf, Pacific Northwest, etc.). Mathematically, it is the destination price minus the origin price.

Price spreads are closely linked to transportation. They tend to reflect the costs of moving goods from one point to another, all else constant. Fluctuations in spreads can change the flow of goods (where it may be more profitable to ship to a different location), as well as indicate changes in transportation availability (e.g., disruptions). For more information on how price spreads are linked to transportation, see the story, "Grain Prices, Basis, and Transportation" (https://agtransport.usda.gov/stories/s/sjmk-tkh6).

This is one of three companion datasets. The other two are grain prices (https://agtransport.usda.gov/d/g92w-8cn7) and grain basis (https://agtransport.usda.gov/d/v85y-3hep). 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, and there needs to be both an origin and a destination to have a price spread).

The origin and destination prices come from the grain prices dataset.

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.

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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.
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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

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 2024, after three years of growth, there was significant decline in the Chinese wheat market, when its value decreased by -9.7% to $58.3B. The market value increased at an average annual rate of +1.9% from 2012 to 2024; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $64.5B in 2023, and then dropped in the following year.

Today, the prices of US wheat have experienced some fluctuations in the market. The wheat market is influenced by a variety of factors including supply and demand, weather conditions, global economic trends, and government policies. The current market price for US wheat is $5.50 per bushel, but prices are subject to change based on various factors.

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.

Canadian wheat farms have grown despite considerable economic volatility through the end of 2024. The industry is highly globalized and reliant on trade, which has improved following the dismantling of the Canadian Wheat Board in 2012; the board had restricted the marketing freedom of farms. Demand for Canadian wheat abroad has risen because of its reputation for high quality. Favourable price increases driven by world wheat prices have improved farm revenue and profitability. Improved trade ties with emerging economies have also aided growth by helping farmers tap into demand from new markets. Wheat farming revenue is expected to climb at a CAGR of 4.7% to an estimated $16.2 billion through the end of 2024, despite a decrease of 2.5% in 2024 because of waning wheat demand. Strong wheat prices have been the primary driver of revenue growth in recent years. The world price of wheat grew by a staggering 43.3% in 2021, followed by 35.5% in 2022, as global supply levels contracted. Canadian wheat prices surged the same year amid an intense drought that cut crop yields, making wheat a rare commodity. Strong revenue growth, combined with technological advancements, has enabled profit expansion for Canada's wheat farmers. Moving forward, a continued gain in the world price of wheat, counteracted some by flagging demand, will drag down revenue growth. Exports will continue to expand, albeit at a slower pace, as external competition from other grains and wheat production in other countries intensifies. Uncertainty regarding global wheat yields will also pose a threat to Canadian wheat farmers. Wheat is susceptible to various weather changes, meaning that industry performance can be drastically disrupted at any time. Revenue is expected to climb at a CAGR of 0.8% to $16.8 billion through the end of 2029.

Explore the fluctuating dynamics of wheat prices in 2023, driven by climate change, geopolitical tensions in Ukraine and Russia, global demand, currency fluctuations, and trade policies. Understand how these factors impact wheat supply and prices, affecting countries worldwide.

India Wholesale Price: DCA: Monthly Average: Wheat: South Zone data was reported at 3,964.230 INR/Quintal in Apr 2025. This records a decrease from the previous number of 4,009.590 INR/Quintal for Mar 2025. India Wholesale Price: DCA: Monthly Average: Wheat: South Zone data is updated monthly, averaging 2,932.700 INR/Quintal from Jan 2014 (Median) to Apr 2025, with 136 observations. The data reached an all-time high of 4,009.590 INR/Quintal in Mar 2025 and a record low of 2,527.660 INR/Quintal in Jan 2014. India Wholesale Price: DCA: Monthly Average: Wheat: South Zone data remains active status in CEIC and is reported by Department of Consumer Affairs. The data is categorized under India Premium Database’s Price – Table IN.PD094: Wholesale Price: Department of Consumer Affairs: Agriculture Commodities: Monthly Average: by Zone.

The Pakistani wheat market contracted to $9.2B in 2024, with a decrease of -12.9% against the previous year. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2024; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $10.5B, and then reduced in the following year.

Wheat price growth is to slow down with dropping demand for feed grains in the U.S. and Thailand. Global wheat production is forecast to stay at 777M tons in 2022.