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Cereals prices in Germany, the highest-cost reporting region, rose 0.9% in Q2 2026 to USD 1,125.00/MT from USD 1,115.00/MT in Q1, holding within the narrow band that has characterized the European market throughout the period covered in this report. Globally, the average rose from USD 1,040.80/MT in Q1 to USD 1,051.90/MT in Q2, a 1.1% gain, continuing a modest recovery after a cumulative 2 percent decline through 2025. For H2 2026, a global average of USD 970.00-1,150.00/MT is expected, with generally adequate global grain supply and relatively balanced supply-demand fundamentals likely to keep this market broadly stable.
Cereals are grasses cultivated for their edible grains, forming the foundation of global food security, livestock feed, and agricultural commodity markets. The global cereals complex comprises wheat, corn, rice, barley, oats, rye, sorghum, and millet, with pricing tracked as a composite across these major grain types. Government agricultural agencies, the Food and Agriculture Organization, and the International Grains Council provide authoritative tracking of production, consumption, trade flows, and pricing across this market. European wheat and barley production has varied with weather conditions, while strategic grain reserves and agricultural policy frameworks in major producing regions have supported relative price stability even amid variable harvest outcomes. Global harvest conditions, strategic grain reserves and agricultural policy, and livestock feed and food processing demand are what drive prices in this market.
The outlook for Cereals through H2 2026 leans broadly stable, tracking generally adequate global grain supply and relatively balanced supply-demand fundamentals. Good North American harvest conditions should continue supporting ample supply, while European strategic grain reserves and agricultural policy frameworks are expected to continue smoothing out weather-driven production variability across France, Germany, and Poland.
The main upside risk is a weather-related disruption to North American, European, or Asian harvests, which could tighten global supply and push prices meaningfully higher than currently forecast. The main downside risk is a stronger-than-expected global harvest combined with softer livestock feed demand, which could extend the gradual price softening seen through much of 2025.
| Region | 2026 Price Range (USD/MT) | Outlook |
| Global Average | 970.00 - 1,150.00 | Adequate global grain supply keeps this market broadly stable |
| Germany | 1,080.00 - 1,160.00 | Strategic reserves and agricultural policy sustain the highest price |
| United States | 1,000.00 - 1,090.00 | Good harvest conditions support ample supply |
| India | 980.00 - 1,060.00 | Steady domestic demand keeps this market stable |
| China | 930.00 - 1,020.00 | Large-scale production keeps this the most affordable market |
German Cereals prices averaged USD 1,125.00/MT in Q2 2026, the highest of any region tracked here, up 0.9% from USD 1,115.00/MT in Q1, holding within the narrow band supported by strategic grain reserves and agricultural policy.
Why did the price of Cereals change in Q2 2026 in Germany?
Strategic grain reserves and agricultural policy frameworks continued supporting relative price stability, even as French, German, and Polish harvest outcomes varied with weather conditions.
US prices averaged USD 1,050.00/MT in Q2 2026, up 1.0% from USD 1,040.00/MT in Q1, as good harvest conditions continued supporting ample domestic supply.
Why did the price of Cereals change in Q2 2026 in the United States?
Good North American harvest conditions continued contributing to adequate global grain supply, keeping this market's fundamentals relatively balanced even as prices firmed modestly.
Indian prices averaged USD 1,030.00/MT in Q2 2026, up 1.0% from USD 1,020.00/MT in Q1, as steady domestic demand continued keeping this market on a gradually firming path.
Why did the price of Cereals change in Q2 2026 in India?
Steady demand from livestock feed and food processing applications kept Indian buyers active even as global grain supply remained generally adequate.
Chinese prices, the lowest of the four regions, averaged USD 985.00/MT in Q2 2026, up 1.5% from USD 970.00/MT in Q1, as large-scale domestic production continued keeping this market comparatively affordable.
Why did the price of Cereals change in Q2 2026 in China?
Large-scale domestic grain production continued keeping Chinese cereals pricing the most competitive of any region tracked here, even as the broader global market firmed modestly.
German prices rose 1.4% in Q1 2026 to USD 1,115.00/MT from USD 1,100.00/MT in Q4 2025, holding within its established narrow band.
Why did the price of Cereals change in Q1 2026 in Germany?
European cereals held in a narrow band across the period, with modest Q4 2025 softness giving way to a small Q1 2026 recovery, as strategic grain reserves and EU agricultural policy frameworks continued supporting relative stability.
US prices rose 2.0% in Q1 2026 to USD 1,040.00/MT from USD 1,020.00/MT in Q4 2025, recovering modestly after a soft H2 2025.
Why did the price of Cereals change in Q1 2026 in the United States?
Global cereals prices trended modestly lower through 2025 before a small Q1 2026 recovery, reflecting generally adequate global grain supply and good North American harvest conditions contributing to relatively balanced supply-demand fundamentals.
Indian prices rose 2.0% in Q1 2026 to USD 1,020.00/MT from USD 1,000.00/MT in Q4 2025, tracking the broader modest recovery.
Why did the price of Cereals change in Q1 2026 in India?
Relatively balanced supply-demand fundamentals across the global cereals complex supported a modest Q1 2026 recovery after the gradual softening that characterized most of 2025.
Chinese prices rose 2.1% in Q1 2026 to USD 970.00/MT from USD 950.00/MT in Q4 2025, tracking the broader global recovery.
Why did the price of Cereals change in Q1 2026 in China?
The cumulative decline across the full 2025 observation window reflected generally adequate global grain supply, with a small Q1 2026 recovery reflecting firmer demand conditions heading into the new year.
Global Cereals prices trended modestly lower through 2025 before a small recovery took hold in Q1 2026, easing from a higher starting point in early 2025 to a low in Q4, then firming through the first half of 2026 as generally adequate global grain supply gave way to relatively balanced supply-demand fundamentals across the major producing regions tracked in this report.
| Quarter | Price (USD/MT) | QoQ Change | Direction |
| Q2 2026 | 1,051.90 | +1.1% | ↑ Rising |
| Q1 2026 | 1,040.80 | +1.8% | ↑ Rising |
| Q4 2025 | 1,022.20 | -1.9% | ↓ Falling |
| Q3 2025 | 1,042.20 | -2.1% | ↓ Falling |
| Q2 2025 | 1,064.80 | - | — Stable |
| Q3 2026 | In Progress | - | — In Progress |
Cereals declined modestly across every market covered in this report through 2025, reflecting generally adequate global grain supply, good North American harvest conditions, and relatively balanced supply-demand fundamentals, with the United States posting the steepest annual decline of the four regions before the small recovery that followed in early 2026.
German prices eased from about USD 1,130.00/MT in Q1 2025 to USD 1,100.00/MT by Q4, down roughly 2.7%, the smallest annual decline of the four regions, reflecting the stability provided by strategic grain reserves and agricultural policy.
US prices eased from about USD 1,080.00/MT in Q1 2025 to USD 1,020.00/MT by Q4, down roughly 5.6%, the steepest annual decline of the four regions, tracking good harvest conditions.
Indian prices eased from about USD 1,050.00/MT in Q1 2025 to USD 1,000.00/MT by Q4, down roughly 4.8%, tracking the broader global softening through the year.
Chinese prices eased from about USD 1,000.00/MT in Q1 2025 to USD 950.00/MT by Q4, down roughly 5.0%, tracking generally adequate domestic grain supply through the year.
Expert Market Research: Your Source for Real-Time Cereals Price Intelligence
Expert Market Research tracks Cereals prices continuously across every major producing and consuming region, combining global harvest condition data, strategic grain reserve and agricultural policy signals, and livestock feed and food processing demand trends into a single, regularly updated view of the market. Our team can help your procurement function benchmark current offers, plan purchases around the stable trends covered in this report, and build a defensible view of where this foundational food security commodity is headed next. Reach out to our team for a tailored briefing or a deeper look at any of the regional markets covered here.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Cereals form the foundation of global food security, livestock feed, and agricultural commodity markets, with the global complex comprising wheat, corn, rice, barley, oats, rye, sorghum, and millet.
The Q2 2026 global average was USD 1,051.90/MT, ranging from USD 985.00/MT in China to USD 1,125.00/MT in Germany.
The global average rose from USD 1,022.20/MT in Q4 2025 to USD 1,040.80/MT in Q1 2026 and then to USD 1,051.90/MT in Q2, continuing a modest recovery after a cumulative 2 percent decline through 2025.
Generally adequate global grain supply, good North American harvest conditions, and relatively balanced supply-demand fundamentals kept this market on a modestly softening path for most of the year before a small Q1 2026 recovery took hold.
The global average is expected in the USD 970.00-1,150.00/MT range, with adequate global grain supply likely to keep this market broadly stable.
China holds the lowest cost among the regions tracked here given large-scale domestic production, while Germany carries the highest cost given the support of strategic grain reserves and agricultural policy.
This report is updated monthly. For real-time pricing intelligence, connect with the Expert Market Research team.
Global harvest conditions, strategic grain reserves and agricultural policy, and livestock feed and food processing demand.
The United States, China, India, and the European Union are among the largest global cereals producers, with government agricultural agencies and the International Grains Council providing authoritative tracking of production and trade flows.
Buyers can monitor global harvest conditions and strategic reserve policy given their outsized influence on this market, time forward purchases around the quarterly breakdowns in this report, and benchmark supplier quotes against the tracked price ranges.
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