Northern America: Wheat Market 2024

Wheat Market Size in Northern America

In 2022, the North American wheat market was finally on the rise to reach $X after three years of decline. Over the period under review, consumption, however, showed a perceptible contraction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Wheat Production in Northern America

In value terms, wheat production stood at $X in 2022 estimated in export price. Overall, production, however, recorded a pronounced reduction. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were the United States (X tons) and Canada (X tons).

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Canada (with a CAGR of X%).

The average wheat yield rose notably to X tons per ha in 2022, picking up by X% compared with 2021. Over the period under review, the yield saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the yield increased by X%. As a result, the yield reached the peak level of X tons per ha. From 2017 to 2022, the growth of the wheat yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of wheat in Northern America was estimated at X ha, remaining stable against the year before. Overall, the harvested area, however, recorded a slight decline. The pace of growth appeared the most rapid in 2018 when the harvested area increased by X%. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

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Wheat Exports

Exports in Northern America

In 2022, shipments abroad of wheat decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, exports continue to indicate a slight downturn. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, wheat exports skyrocketed to $X in 2022. Total exports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2013 when exports increased by X%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, the United States (X tons), followed by Canada (X tons) were the largest exporters of wheat, together achieving X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of X%).

In value terms, the United States ($X) and Canada ($X) appeared to be the countries with the highest levels of exports in 2022.

In terms of the main exporting countries, Canada, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2022, with an increase of X% against the previous year. Export price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wheat export price increased by X% against 2018 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the United States stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%).

Wheat Imports

Imports in Northern America

Wheat imports rose rapidly to X tons in 2022, growing by X% compared with the year before. Overall, imports, however, recorded a noticeable decline. The growth pace was the most rapid in 2013 when imports increased by X%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, wheat imports soared to $X in 2022. Over the period under review, imports, however, saw a slight descent. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United States dominates imports structure, amounting to X tons, which was near X% of total imports in 2022. It was distantly followed by Canada (X tons), mixing up a X% share of total imports.

Imports into the United States decreased at an average annual rate of X% from 2012 to 2022. Canada experienced a relatively flat trend pattern. From 2012 to 2022, the share of Canada increased by X percentage points.

In value terms, the United States ($X) constitutes the largest market for imported wheat in Northern America, comprising X% of total imports. The second position in the ranking was taken by Canada ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled X%.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per ton, surging by X% against the previous year. Import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wheat import price increased by X% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while Canada totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%).

Source: IndexBox Platform

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