Wheat prices today
Around 790 million tonnes of wheat are produced each year, making it a fundamental crop for food chains worldwide. Expana covers wheat prices across all major exporters, classes and grades, along with wheat market forecasts and intelligence.
Weather, logistics, trade policy and conflict all affect supply, and our experts explain what each means for your costs.
Milling wheat price chart
| Date | Price (USD/mt) | MoM % | QoQ % | YoY |
|---|---|---|---|---|
| Unlock Unlock our wheat prices and future forecasts. | ||||
| 210 | ↓ 4.5% | ↓ 5.4% | — | |
| 210 | ↓ 5.8% | ↓ 5.4% | — | |
| 210 | ↓ 6.3% | ↓ 5.4% | — | |
| 212.75 | ↓ 6.8% | ↓ 5.0% | — | |
| 214.75 | ↓ 4.6% | ↓ 4.1% | — | |
| 220 | ↓ 1.6% | ↓ 0.9% | — | |
| 223 | → 0.0% | ↑ 1.8% | — | |
| 224 | ↑ 1.4% | ↑ 2.8% | — | |
| 228.25 | ↑ 2.8% | ↑ 4.7% | — | |
| 225 | ↑ 1.4% | ↑ 3.7% | — | |
| 223.5 | ↑ 0.7% | ↑ 3.0% | — | |
| 223 | ↓ 0.4% | ↑ 3.2% | — | |
| 221 | → 0.0% | ↑ 2.3% | — | |
| 222 | ↓ 0.9% | ↑ 4.2% | — | |
| 222 | → 0.0% | ↑ 3.3% | — | |
| 222 | ↑ 1.4% | ↑ 3.3% | — | |
| 224 | ↑ 2.8% | ↑ 3.2% | — | |
| 221 | ↑ 1.4% | ↑ 1.8% | — | |
| 224 | ↑ 3.2% | ↑ 3.2% | — | |
| 222 | ↑ 2.3% | ↑ 2.3% | — | |
| 219 | ↑ 1.4% | ↓ 1.9% | — | |
| 218 | ↑ 2.3% | ↓ 2.4% | — | |
| 217 | ↑ 0.9% | ↓ 2.8% | — | |
| 217 | ↑ 0.9% | ↓ 2.8% | — | |
| 216 | ↓ 0.5% | ↓ 3.2% | — | |
| 216 | ↓ 0.5% | — | — | |
| 213 | ↓ 1.8% | — | — | |
| 215 | ↓ 0.9% | — | — | |
| 215 | ↓ 3.7% | — | — | |
| 217 | ↓ 2.6% | — | — | |
| 217 | ↓ 2.8% | — | — | |
| 217 | ↓ 2.8% | — | — | |
| 217 | ↓ 2.8% | — | — | |
| 223.25 | → 0.0% | — | — | |
| 222.75 | — | — | — | |
| 223.25 | — | — | — | |
| 223.25 | — | — | — | |
| 223.25 | — | — | — | |
| 223.25 | — | — | — | |
Expana: the IOSCO-assured leader in wheat pricing
Our wheat coverage includes 560 price series, with 57 Expana Benchmark Prices covering export prices from every major producer and protein level, and 45 wheat price forecasts. In-depth monthly reports come from Strategie Grains, an Expana subsidiary, alongside historical pricing, charting tools and cost modelling. Our milling wheat 12.5% FOB Russia benchmark is IOSCO assured, giving buyers and sellers a trusted, independently reviewed reference price. Use Expana to benchmark what you pay, understand market direction and plan purchases with more confidence.
Wheat coverage is led by Andrew Kanyemba, Senior Grains Analyst. Explore related coverage on our grains, corn prices and soybean prices pages.
560 wheat price series
Including 57 Expana Benchmark Prices across exporters and protein levels.
45 wheat price forecasts
Forward price forecasts across key wheat markets.
Class and grade coverage
Milling, feed, durum and hard and soft wheat classes.
Strategie Grains reports
In-depth monthly analysis from Expana subsidiary Strategie Grains.
Exporter coverage
Russia, Ukraine, the EU, the US, Canada, Australia and Argentina.
Cost modelling
Historical pricing, charting tools and cost models for wheat products.
Our wheat intelligence includes:
Wheat price forecast
Wheat prices respond to crop size in the major exporters, Black Sea shipments, weather, export policy and demand from importing countries. Expana’s wheat forecasts show where prices may move next, not only where the market stands today.
- Forward price projections for the wheat market, across 45 forecast series.
- Short-term direction from harvest progress, exports and port logistics.
- Weather signals in Russia, Ukraine, the EU, North America and Australia.
- Export policy, including quotas and taxes in Black Sea producers.
- Links to corn and feed grain prices.
- Written commentary explaining each move and any change to the outlook.
Forecasts are forward-looking and are not a guarantee of future prices. See the forecast disclaimer.
Our wheat forecasting methodology
Expana’s wheat forecasts are grounded in a comprehensive analysis of market dynamics, integrating macroeconomic, fundamental and technical views.
- Macroeconomic signals
We track GDP, inflation, currencies and energy prices that affect production costs and demand. - Technical indicators
We apply moving averages, MACD and RSI to read trend and momentum. - Fundamental analysis
We weigh the supply and demand balance, including weather, logistics and trade policy, against a fair value band.
Our milling wheat 12.5% FOB Russia benchmark is IOSCO assured. Read more about our price assessment methodology. This approach gives buyers and sellers a reliable reference point for negotiation, budgeting and contract timing.
Looking for full insights on the wheat market? Get a demo today.
Latest wheat news and insights
Analysis created and curated by our grains experts.
Wheat Market FAQs
What factors influence wheat prices?
Wheat prices are affected by:
- Weather events (drought, floods, frost)
- Global supply and demand
- Crop diseases and pests
- Government policies and trade restrictions
- Currency fluctuations
- Energy and transportation costs
Why do wheat prices fluctuate?
As an agricultural product, wheat prices are sensitive to unpredictable factors like weather, geopolitics, supply disruptions, and sudden changes in demand.
How are wheat prices quoted?
In most international markets, wheat prices are quoted per metric ton or per bushel – commonly in US dollars.
What are the main types of wheat traded as commodities?
Major types include:
- Hard Red Winter (HRW) Wheat
- Soft Red Winter (SRW) Wheat
- Hard Red Spring (HRS) Wheat
- Durum Wheat
- Soft White Wheat
Essential intelligence for industry professionals
Expana delivers essential intelligence to industry professionals across grain markets, ensuring business leaders stay informed about the latest prices and industry trends, enabling them to effectively navigate disruptions, manage prices, and deliver value to their customers.