Wheat fell to 539.78 USd/Bu on July 24, 2025, down 0.13% from the previous day. Over the past month, Wheat's price has risen 2.18%, and is up 0.38% 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.

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.

In January 2025, the average wheat export price amounted to $211 per ton, with an increase of 2% against the previous month.

Global wheat prices increased by over ** percent over the period from February 24 to June 1, 2022, compared to the average in January 2022. The growth was explained by the Russia-Ukraine war, as Russia and Ukraine were among the leading wheat exporters. Furthermore, coal prices grew by around ** percent. A significant increase was also recorded in the prices of metals exported by Russia, such as nickel, palladium, and aluminum.

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.

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 FAO Food Price Index (FFPI) averaged 124.9 points in January 2025, down 2.1 points from December 2024. The highest value for the index in the past 23 years was reached in March 2022. However, the rate of food price increases has been decreasing since.

Food prices worldwide The annual FAO Food Price Index (FFPI) by category shows that the price of vegetable oils grew by a particularly large margin. One of the factors that influenced the spike in oil prices worldwide during 2020 and 2021 were the supply-chain disruptions during the COVID-19 pandemic. Moreover, after the war in Ukraine, shipping costs and grain prices also had a noticeable impact on global food prices. Global food prices are calculated to have increased by 3.68 percent, due to changes in shipping costs and grain prices. The European Union (EU) has experienced a particularly high increase in the annual consumer prices for food and non-alcoholic beverages, as compared to other selected countries worldwide. Inflation in Europe

The inflation rate for food in the EU grew from 0.2 percent in May 2021 to 19.2 percent in March 2023, as compared to the same month in the previous year. In the following months, the food inflation started decreasing again, reaching 1.86 percent in April 2024. The overall inflation rate in the Euro area reached its peak in December 2022 at 9.2 percent. The rate has since fallen to 2.4 percent in December 2024. As measured by the Harmonized Index of Consumer Prices (HICP), inflation rates in Europe were highest in Turkey, North Macedonia, and Romania as of December 2024.

The monthly average price for normal wheat in Egypt amounted to 22.05 Egyptian pounds (0.71 U.S. dollars) per kilogram as of May 2023. During the period reviewed, the price was the highest ever recorded and increased slightly compared to the previous month, registering a growth of almost 1.9 percent. In November 2019, the average price dropped by one Egyptian pound and stayed constant until May 2020 before fluctuating and increasing in general. The previous relative stability in wheat prices was caused by the extensive involvement of the Egyptian government in all parts of the wheat value chain.   

A major crop for the Egyptians     

Grains constitute Egypt's most important crop group, with wheat as the most important grain of all. In 2021, the country produced nine million metric tons of the crop. Yet Egyptians consumed more than twice that number. The grain is fundamental to the Egyptian population's food staple. In order to meet a demand that is higher than the local production, the country imports the majority of its wheat. In fact, Egypt has held its position as the largest wheat importer globally for years.

Several shocks to the Egyptian grain market     

The increases in the crop's price since September 2021 were a result of several reasons. The increases in the global average price of cereals, as well as crops affected by weather conditions in major export nations were among the main causes. Furthermore, the Russia-Ukraine war has severe implications on the wheat supply globally and in Egypt. Both countries are leading wheat import partners of Egypt, aggregating 85 percent of the country's wheat imports in 2020. As of the same year, the volume of wheat imported from Russia stood at 14 million metric tons.

Increasing health awareness and rising consumer spending led to an average annual increase in industry sales of 3.6% in the period from 2019 to 2024. In 2020, demand for ground products was primarily influenced by the effects of the coronavirus pandemic. While demand from end consumers and baked goods manufacturers rose significantly at times, demand from other bulk buyers fell. In 2022, the Ukraine conflict led to a sharp rise in the global market price for wheat, which also increased the cost of materials for grinding and hulling mills. Mill operators were largely able to pass on the higher purchasing costs to their customers, as a result of which their turnover also increased significantly. In the current year, industry turnover is expected to fall by 4.6% to 6.1 billion euros.The most important input factor for mills is grain. As the prices for wheat and other types of grain depend on the grain farmers' harvest yields, which in turn are influenced by weather conditions, grain prices can be very volatile. If the grain harvest is particularly poor, prices rise, which leads to an increase in material costs for industry players. If industry players are unable to pass this cost increase on to their customers, this has a negative impact on profit margins. Another factor influencing the industry is the demand for milled products from downstream sectors such as artisan bakers, industrial baked goods manufacturers and supermarkets. The sales growth of these important customer markets has tended to have a positive effect on the sales development of grinding and peeling mills in recent years.In the period from 2024 to 2029, turnover in grinding and peeling mills is expected to fall by an average of 1.3% per year to 5.7 billion euros. The ongoing health trend and continued high consumer spending on food should ensure that sales volumes remain stable in the coming years. However, grain prices are likely to fall again somewhat, which means that industry sales are also expected to decline. Due to market saturation, there is likely to be little growth potential for industry players in the future, which is why the number of grinding and hulling mills is likely to fall.

The wholesale grain, seed and animal feed sector has been characterised by increasing competition in recent years. Industry players have had to contend with the volatility of the commodity markets and high price pressure in particular. In addition, numerous consumer trends affecting downstream sectors are changing the demand for products in the industry. Industry sales have increased by an average of 1.8% per year over the past five years. Turnover is expected to reach 38.9 billion euros in 2025, which corresponds to a decline of 0.5% compared to the previous year.The years 2022 and 2023 were characterised by differences in national harvests, a strong euro and the effects of climate change. As the global agricultural markets are among the most liberalised in the world, the weak harvest yields in Russia and Ukraine led to rising prices for agricultural commodities during this period. Currently, industry players continue to be confronted with a high world market price for crude oil, which leads to high additional costs for agricultural logistics, and a high world market price for natural gas, which makes the necessary drying of more than 40 million tonnes of grain more expensive. For the period from 2025 to 2030, IBISWorld expects average annual sales growth of 1.8% and industry sales of 42.5 billion euros in 2030. The reason for the weak sales growth is the structural change in agriculture in combination with changing consumer preferences and increased competitive pressure. However, the high global market price for wheat, the development of new sales markets such as the biofuel industry and the improved use of digital distribution channels also offer the sector sales potential. The planned EU Green Deal could threaten the industry, as it may lead to reduced livestock numbers and a reduced need for animal feed. If the planned Green Deal is fully implemented, less grain is likely to be grown in the European Union, which could make Germany an importer of grain and cause prices to rise. Wholesalers could expand their range of insect feed. The EU regulation on the use of mealworm powder in food promotes sustainable protein sources and could boost demand for insect feed. This gives wholesalers the opportunity to diversify their portfolio and enter into partnerships in the insect sector to capitalise on the growing demand for alternative proteins.

The industries operating in the agricultural sector engage in crop production and livestock farming. Its main products include cereals, oilseeds, potatoes, vegetables, raw milk, slaughter animals and eggs. In the current year, sales in the sector are expected to decline by 4.3% to reach €53.1 billion. Between 2018 and 2023, it was subject to significant fluctuations, declining by an average of 2.1% per year. This was due to fluctuating crop yields and producer prices for the above-mentioned agricultural commodities, depending on the marketing year. For example, cereal and potato crops recorded low harvests in 2018 and 2020 due to the hot spell at the time. In 2019, on the other hand, pig farming benefited from growing demand for pork in the Asian region. Dairy cow farming achieved high sales last year due to rising producer prices.At present, the war in Ukraine and the mutual sanctions between the European Union and Russia are shaping the economic situation of German agriculture. This is because Ukraine is one of the largest exporters of grain and Russia is one of the largest exporters of fertilizer. The war is raising wheat and milk prices as well as the cost of fertilizer, natural gas and fuel. Rising production costs are an enormous burden for all industries, partly because they cannot pass them on directly to the customer markets.In the future, climatic conditions with increasing temperatures and water scarcity, as well as the currently rising input prices, will have a strong impact on the agricultural sector. Nevertheless, sector sales are expected to grow by an average of 0.5% over the next five years to reach €54.3 billion in 2028. This is due to rising producer prices for agricultural products, growing global demand for German agricultural commodities, increasing health and environmental awareness, and increased demand for regional and organic products. In the course of the realignment of the European Union's Common Agricultural Policy, organic farming in particular is likely to increase its sales, as agricultural subsidies will increasingly be linked to compliance with sustainability criteria.

Operators in the Grain Storage industry have benefited from strong growth in grain production volumes in recent years. The industry is characterised by extreme revenue volatility, which creates difficult conditions for operators. Shifting wheat prices, movements in the Australian dollar and fluctuating grain production due to changing rainfall have influenced industry demand and earnings. Record national grain harvest over three consecutive years through 2022-23 has significantly boosted demand for grain storage. Grain storage companies have capitalised on record production volumes by quickly expanding storage capacity. As a result, industry-wide revenue has been growing at an average annualised 3.8% over the past five years and is expected to total $3.5 billion in 2023-24, when revenue will fall by an estimated 22.8%. An anticipated decline in crop production is expected to contribute to industry revenue declining in the current year. A large portion of stored grains is destined for export markets, as grains are typically stored while waiting for shipment. Grain growers typically attempt to increase the volume of exported grains when prices rise, negatively affecting demand for grain storage services. World wheat prices can significantly influence the industry's performance, as wheat accounts for the largest portion of grain stored. World wheat prices have surged in recent years, primarily due to the COVID-19 pandemic and the Russia-Ukraine conflict constraining the global grain supply. While high wheat prices typically encourage firms to reduce the time grains spend in storage, port congestions and extreme production volumes have led to operators filling up storage facilities, supporting profitability growth. Total grain production volumes are on track to fall over the coming years, contributing to industry revenue declines. However, this forecast is based on average weather patterns. While they are difficult to forecast, adverse weather conditions or natural disasters could negatively influence industry performance over the coming years as production volumes may be diminished. Overall, industry revenue is forecast to fall at an annualised 2.3% over the five years through 2028-29 to total $3.1 billion.

The Flour and Grain Mill Product Manufacturing industry has experienced mixed conditions in recent years. A pandemic-induced home-baking boom increased household flour and grain mill product consumption, driving demand from supermarkets and grocery stores. During 2020 droughts, wheat and rice production volumes shrank, limiting the industry’s ability to manufacture flour and grain mill products. The Russia-Ukraine conflict has also raised global wheat prices by contributing to scarcity, with domestic prices following. Manufacturers had to pass increased costs on to consumers through higher prices to maintain profit margins and boost their earnings. In May 2020, China imposed steep tariffs on Australian malted barley. Although these tariffs were lifted in August 2023, a growing health consciousness in China has led to a dip in alcohol consumption, keeping malt exports to China below pre-tariff levels. Australian barley's diminished competitiveness in the Chinese market has cut into real export revenue for manufacturers. These shifts in demand and input supply have meant revenue is expected to inch up by only 0.6% annualised over the five years through 2024-25, to $5.0 billion. This includes an anticipated drop of 8.1% in 2024-25. Despite revenue volatility, profit margins have improved. Climbing input costs, like fertilisers, have eroded profitability, but larger manufacturers with economies of scale have managed to minimise costs and maintain favourable profit margins. Small-scale manufacturers have focused on producing niche products like organic products to attract customers, leading to higher profit margins. Revenue is poised to improve as demand from downstream markets grows over the coming years. Health consciousness will increase over the coming years, boosting demand from supermarkets and grocery stores, food product manufacturers, and general-line grocery wholesalers. Rice production is also set to continue expanding, supporting forecast revenue growth of 1.4% annualised through 2029-30, to an estimated $5.3 billion.

Changing consumer trends, volatile commodity prices and a saturated market characterise the Cake and Pastry Manufacturing industry. Intensifying competitive pressures have also posed serious challenges for large and small cake and pastry manufacturers, with even household names like Patties and Sara Lee changing hands in recent years in the face of challenging conditions. Supermarkets have extended their private-label offerings in their ongoing foray into the fresh food market. Consumers have moved towards artisanal and gourmet foods, elevating from retail bakeries and threatening branded industry manufacturers. Due to rising health consciousness, downstream consumers have also moved away from factory-produced, pre-packaged baked goods that supermarkets sell, instead favouring fresh, artisanal alternatives sold in rival outlets. Many manufacturers are relying on innovative new products to stimulate demand in an otherwise saturated market. These items have included more products that target consumers looking for healthy and convenient on-the-go foods and snacks, like gluten-free and vegan products. However, high input prices have been constraining performance, as has the cost-of-living crisis, which has seen price-conscious consumers tighten their belts. Historically high domestic wheat prices in the wake of the Russia-Ukraine conflict have added to industry manufacturers' challenges and eaten into profit margins. In response, manufacturers have been forced to raise their prices. Overall, revenue is expected to climb at an annualised 1.4% to $2.4 billion over the five years through 2025-26, supported by higher prices. This trend includes expected growth of 2.0% in the current year. Cake and pastry manufacturers will continue to adapt to the changing trading environment in the coming years. Manufacturers will likely develop and introduce new products – including cakes and pastries containing locally sourced ingredients – as they focus on specialised, higher-margin products. New product ranges will open new markets for manufacturers who will focus on developing relationships with customers in the food service sector. Revenue is forecast to climb at an annualised 1.7% to $2.6 billion over the five years through 2030-31.