Milling Wheat Price Trend and Forecast

Milling Wheat Regional Price Overview

Get the latest insights on price movement and trend analysis of Milling Wheat in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Milling Wheat Price Trend for the First Half of 2024

During the first half of 2024, milling wheat prices experienced moderate fluctuations, influenced by various market dynamics. Early in the year, prices were subdued due to a large supply of wheat globally, driven by ample exports from the Black Sea region, South American corn, and the ongoing northern hemisphere wheat harvest. However, despite the oversupply, input costs for farmers remained high, leading to tighter profit margins.
 

Milling Wheat Price Chart

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This began to affect planting decisions in key regions like North and South America, signaling potential supply constraints. By mid-year, adverse weather conditions, including drought in Canada and Australia, as well as reduced planting intentions, began to put upward pressure on prices. Although the global wheat supply remained sufficient, these growing concerns around production and geopolitical uncertainties led to expectations of price strengthening in the latter part of the year. Overall, the first half of 2024 saw a steady but cautious recovery in milling wheat prices as the market responded to both supply abundance and looming risks.

Analyst Insight

According to Procurement Resource, Milling Wheat prices are expected to further strengthen, especially in markets like India, which is seeing to reopen imports to sustain domestic demands.
 

Milling Wheat Price Trend for the Second Half of 2023

Milling wheat prices were observed to be oscillating throughout the said period of the year 2023. The Asian market began on a positive note at the beginning of the third quarter in July. Unseasonal weather disruptions did cause some disturbance; however, the moderation in downstream demands and both India’s and China’s access to Russian imports helped stabilize the milling wheat markets.

As the fourth quarter began, the price trajectory did not show much fluctuation. Prices were still observed to be wavering within confined limits. Given the freight disturbance in the Red Sea and the hindrances in global trade, some kickback was observed in the export queries. Thus, domestic prices in China faced a minor pushback. However, the overall pricing fundamentals were largely stable for milling wheat.

Analyst Insight

According to Procurement Resource, the milling wheat price trends are expected to continue along similar lines going forward as well.
 

Milling Wheat Price Trend for the First Half of 2023

In the first and second quarters of 2023, the price trend of milling wheat witnessed a mixed trajectory with month-on-month fluctuations. The trading activities were highly affected by the weak rates of production in major wheat-producing nations such as India. The harvesters registered a decline of almost 10 percent in the harvest, which helped the prices of milling wheat to increase during the first two quarters.

To curb the inclination in the price trend of milling wheat due to limited supply, governments in Asia-Pacific countries undertook measures and imposed limits on traders that negatively impacted the price trend of milling wheat.

Other factors that proved to be a challenge for the milling wheat market were fluctuations in weather, restricted trade due to the Russia-Ukraine conflict, and uneven economic conditions around the globe. This trend was not limited to Asian countries; even in European nations, high uncertainties in the wheat market were driven by disruptions in Ukraine’s supply chain and the struggling conditions of several developing nations.

Analyst Insight

According to Procurement Resource, the price of Milling Wheat is estimated to decline in the upcoming quarters as the market for milling wheat will likely be affected by the rate of wheat production and efficiency of trade routes.

Procurement Resource provides latest prices of Milling Wheat. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.