U.S. - Wheat - Market Analysis, Forecast, Size, Trends and Insights
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View PricingWheat Price in the United States - 2023
Contents:
- Wheat Price in the United States (FOB) - 2023
- Wheat Price in the United States (CIF) - 2023
- Wheat Exports in the United States
- Wheat Imports in the United States
Wheat Price in the United States (FOB) - 2023
In September 2023, the average wheat export price amounted to $315 per ton, therefore, remained relatively stable against the previous month. In general, the export price recorded a mild downturn. The most prominent rate of growth was recorded in October 2022 an increase of 12% month-to-month. As a result, the export price attained the peak level of $426 per ton. From November 2022 to September 2023, the the average export prices failed to regain momentum.
Average prices varied somewhat for the major external markets. In September 2023, the countries with the highest prices were Italy ($395 per ton) and South Korea ($353 per ton), while the average price for exports to Indonesia ($265 per ton) and Chile ($270 per ton) were amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Iraq (+5.6%), while the prices for the other major destinations experienced mixed trend patterns.
Wheat Price in the United States (CIF) - 2023
The average wheat import price stood at $312 per ton in September 2023, increasing by 5.4% against the previous month. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in October 2022 when the average import price increased by 40% against the previous month. As a result, import price reached the peak level of $419 per ton. From November 2022 to September 2023, the average import prices remained at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In September 2023, the country with the highest price was Germany ($319 per ton), while the price for Poland ($261 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Canada (+0.5%), while the prices for the other major suppliers experienced a decline.
Wheat Exports in the United States
For the third consecutive year, the United States recorded decline in shipments abroad of wheat, which decreased by -14% to 21M tons in 2022. Overall, exports continue to indicate a deep contraction. The smallest decline of -3.2% was in 2020.
In value terms, wheat exports soared to $8.4B in 2022. The total export value increased at an average annual rate of +10.1% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 15%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.
| Export of Wheat in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 816 | 778 | 1,293 | 1,585 | 24.8% |
| Philippines | 700 | 814 | 885 | 920 | 9.5% |
| Japan | 609 | 635 | 703 | 918 | 14.7% |
| Nigeria | 489 | 311 | 508 | 482 | -0.5% |
| South Korea | 301 | 358 | 498 | 478 | 16.7% |
| China | 55.5 | 570 | 768 | 394 | 92.2% |
| Taiwan (Chinese) | 329 | 302 | 306 | 364 | 3.4% |
| Yemen | 168 | 193 | 154 | 262 | 16.0% |
| Colombia | 137 | 133 | 191 | 238 | 20.2% |
| Thailand | 162 | 171 | 189 | 233 | 12.9% |
| Ethiopia | 64.8 | 72.6 | 88.9 | 216 | 49.4% |
| El Salvador | 62.5 | 35.8 | 50.8 | 196 | 46.4% |
| Indonesia | 286 | 275 | 85.2 | 130 | -23.1% |
| Others | 2,086 | 1,654 | 1,547 | 1,943 | -2.3% |
| Total | 6,266 | 6,302 | 7,267 | 8,358 | 10.1% |
Top Export Markets for Wheat from the United States in 2022:
- Mexico (3.9M tons)
- Philippines (2.3M tons)
- Japan (2.1M tons)
- Nigeria (1.2M tons)
- South Korea (1.2M tons)
- China (0.9M tons)
- Taiwan (Chinese) (0.8M tons)
- Yemen (0.7M tons)
- Colombia (0.6M tons)
- Thailand (0.6M tons)
- El Salvador (0.5M tons)
- Ethiopia (0.5M tons)
- Indonesia (0.4M tons)
Wheat Imports in the United States
In 2022, the amount of wheat imported into the United States stood at 1.7M tons, increasing by 15% against the year before. Over the period under review, imports, however, showed a noticeable slump.
In value terms, wheat imports soared to $717M in 2022. In general, imports enjoyed prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Wheat in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 426 | 428 | 397 | 713 | 18.7% |
| Others | 6.7 | 22.1 | 3.8 | 3.9 | -16.5% |
| Total | 432 | 450 | 401 | 717 | 18.4% |
Top Suppliers of Wheat to the United States in 2022:
- Canada (1681.9K tons)
This report provides an in-depth analysis of the wheat market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 15 - Wheat
Country coverage:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
-
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
-
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
-
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
-
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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Exports of Wheat significantly dropped to $381M in June 2023 in terms of value.
302
In August 2022, the wheat price per ton stood at $409.0 (FOB, US), reducing by -4.5% against the previous month.
889
In June 2022, the wheat price per ton stood at $449 per ton in June 2022, surging by 4.4% against the previous month.
361
In Apr 2022, the wheat price per ton stood at $265 (FOB, US), increasing by 31% against the previous month.
337
In February 2023, the price of cereal was $354 per ton (FOB US) - a decrease of -4.4% compared to the previous month.
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In September 2022, the grain price per ton stood at $355.6 (FOB, US), reducing by -3.5% against the previous month.
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In July 2022, the durum wheat price per ton stood at $483, which is down by -11.8% against the previous month.
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In 2022, wheat price growth is forecast to slow down with sufficient global production and falling demand for feed grains in the U.S. and the EU. Global wheat output is set to remain at the 2021’s level of approx. 777M tons.
