★ Wheat prices across major North Indian markets remained largely stable and range-bound throughout 2025, reflecting balanced supply conditions and steady demand. Prices started the year on a firm note but softened during the peak arrival months as ample supplies weighed on the market.

★ In December, however, prices moved sharply higher after OMSS sales were put on hold. The month also witnessed a sudden rise in rack movements from Uttar Pradesh and Madhya Pradesh to South India. With visible stocks declining on the online portal, the market experienced a one-sided upward move in prices.

★ In Delhi (Lawrence Road), wheat prices traded in a wide range of ₹2,635 to ₹3,320 per quintal, with an annual average of ₹2,884. Mid-year recovery was supported by steady demand from flour mills, though higher arrivals capped any sharp upside. Shahjahanpur prices ranged between ₹2,475 and ₹3,011, averaging ₹2,669, while Bulandshahr traded in the band of ₹2,390 to ₹3,100, with an average of ₹2,654. On the last trading day of the year, Delhi wheat touched the psychological level of ₹2,900 per quintal.

★ Market participants noted that for most of the year, comfortable stocks, regular arrivals, and consistent offtake by flour mills helped keep prices under control. Government procurement and stock management also played a key role in preventing excessive volatility.

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★ Looking ahead, prices may continue to firm up until the arrival of the new crop, provided wheat is not released under OMSS. If OMSS sales resume, prices could come under pressure.

★ According to IGrain’s assessment, wheat acreage has not increased as significantly as earlier projected, and agencies will first need to closely monitor crop health. A large part of the wheat-growing area is currently dependent on rainfall. The market outlook now hinges on weather conditions—insufficient rainfall could impact productivity and grain quality, while temperatures during the crop’s maturity stage will also play a crucial role in determining final output.