The wheat market in North America stood at 29.63 million metric tons in 2023. Over the last decade, the market exhibited a generally steady growth with small fluctuations, such as a notable increase of 1.64% in 2017 and a slight decline of 0.16% in 2019. The year-on-year variation remained mostly stable, registering a 0.28% increase in 2023. The compound annual growth rate (CAGR) for the most recent five-year period leading up to 2023 was 0.2%, indicating modest but consistent growth.

Future trends to watch for:

Adoption of advanced agricultural technologies and practices, which could enhance yield and quality.
Impact of climate change on wheat production, potentially affecting volume and pricing.
Policy shifts and trade agreements that may alter market dynamics and influence export potentials.