Grains & softs · World Bank monthly average
What is the Wheat (US hard red winter) price and how has it changed?
Wheat (US hard red winter) averaged 347.0 US dollars per metric ton in September 2026, according to the World Bank Pink Sheet. That is 5.2% above Aug 2026 and 48.4% above Sept 2025, and in the top quarter of all monthly averages since January 2000.
- Sept 2026 average
- 347.0$/mt · US dollars per metric ton
- Month on month
- ▲ +5.2%from 330.0 in Aug 2026
- Year on year
- ▲ +48.4%from 233.8 in Sept 2025
- 12-month range
- 230.8–347.0low Oct 2025 · high Sept 2026
The last five years
What the record shows
- Over five years the price ranged from 230.8 (Oct 2025) to 522.3 (May 2022). Sept 2026 sits 40% of the way from that low to the high.
- Since January 2000 the record high is 522.3 (May 2022) and the low 105.1 (Apr 2000). The latest month is higher than 90% of the 321 monthly averages in that span, in nominal dollars (not adjusted for inflation).
- The highest full-year average since 2000 was 2022 (430.0); the lowest was 2000 (114.1).
- Annualised volatility of monthly changes over the past five years was 21.1%, close to the 22.0% for the whole record since 2000. Monthly averages smooth out intra-month swings, so daily markets move more than this.
- Five years earlier, in Sept 2021, the average was 337.6: the price is 2.8% above that level.
Yearly averages
| Year | Average | vs prior year | Highest month | Lowest month |
|---|---|---|---|---|
| 2026 9 mo. | 293.5 | ▲ +20.6% | 347.0 Sep | 249.9 Jan |
| 2025 | 243.4 | ▼ −9.4% | 264.6 Feb | 230.8 Oct |
| 2024 | 268.7 | ▼ −21.1% | 289.4 May | 250.9 Aug |
| 2023 | 340.4 | ▼ −20.8% | 394.8 Feb | 283.6 Nov |
| 2022 | 430.0 | ▲ +36.4% | 522.3 May | 374.2 Jan |
| 2021 | 315.3 | ▲ +36.1% | 379.5 Nov | 273.1 Mar |
| 2020 | 231.6 | ▲ +14.8% | 273.0 Nov | 198.4 Jun |
| 2019 | 201.7 | ▼ −3.9% | 219.0 Feb | 181.1 Aug |
| 2018 | 209.9 | ▲ +20.5% | 236.6 Aug | 192.2 Jan |
| 2017 | 174.2 | ▲ +4.5% | 202.5 Jul | 153.2 Jan |
| 2016 | 166.6 | ▼ −18.5% | 193.3 Jan | 141.8 Dec |
| 2015 | 204.4 | ▼ −28.2% | 248.4 Jan | 172.7 Sep |
| 2014 | 284.9 | ▼ −8.8% | 334.7 May | 243.6 Sep |
| 2013 | 312.3 | ▼ −0.3% | 335.5 Jan | 291.6 Dec |
| 2012 | 313.3 | ▼ −1.0% | 360.8 Nov | 264.4 May |
| 2011 | 316.3 | ▲ +41.4% | 355.3 May | 269.0 Dec |
| 2010 | 223.6 | ▼ −0.2% | 306.5 Dec | 157.7 Jun |
| 2009 | 224.1 | ▼ −31.3% | 261.5 May | 191.1 Sep |
| 2008 | 326.0 | ▲ +27.8% | 439.7 Mar | 220.1 Dec |
| 2007 | 255.2 | ▲ +32.9% | 368.6 Dec | 195.7 May |
| 2006 | 192.0 | ▲ +26.1% | 212.1 Oct | 167.2 Jan |
Since January 2000
Largest one-month moves since 2000
| Month | From | To | Move |
|---|---|---|---|
| Aug 2010 | 195.8 | 246.2 | ▲ +25.7% |
| Sept 2007 | 259.7 | 326.5 | ▲ +25.7% |
| Jul 2012 | 276.2 | 345.7 | ▲ +25.2% |
| Mar 2022 | 390.5 | 486.3 | ▲ +24.5% |
| Jul 2010 | 157.7 | 195.8 | ▲ +24.2% |
What exactly is being priced?
Wheat (U.S.), no. 2 hard red winter, Gulf export price. The World Bank publishes the series as a monthly average in US dollars per metric ton ($/mt). Benchmark definitions occasionally change, as noted above, so very long comparisons mix slightly different contracts. See commodity price units explained for converting units.
Sources
- World Bank Commodity Price Data (The Pink Sheet), monthly prices workbook (updated October 02, 2026; retrieved 16 Oct 2026). Licensed CC BY 4.0.
- Method for changes, ranges and volatility: methodology.