Producer Price Index for wheat sold at the farm and first-handler level, a WPU commodity index distinct from WPU01 (Farm Products). Index base: 1982 = 100.
Latest value
190.146
Index · as of Aug 2026
Year-over-year change
+35.9%
BLS
Month-over-month change
+2.4%
Latest value is 1 month old. Next update expected around Sep 2026.
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Price history
Data & insights
Key figures
From Jan 2024 to Aug 2026 the index went from 182.0 to 190.1, a change of +4.5%.
Highest reading in that period: 198.4 in May 2024. Lowest: 136.9 in Oct 2025.
Largest one-month rise: +18.3% in May 2024. Largest one-month fall: -12.3% in Jun 2026.
For a clause that resets its base every year, a 10% cap or floor would have limited the adjustment in 10 of the last 20 months.
Volatility (12mo)
±6.93%
Std. dev. of month-over-month change
Strongest average month-over-month move historically: May (+9.1% avg).
What this means for your clause
The standard reference in grain purchase and milling supply contracts, cited far more often than the farm products aggregate because wheat trades as its own market with its own weather and export-demand drivers. A flour miller's input contract should reference this series directly rather than the broader farm products index.
Draft a clause
A starting point citing this series by name and code. Replace the bracketed terms with your contract's actual scope before use.
The [affected portion] of the Contract Price shall be adjusted using US PPI — Wheat (BLS series WPU0121), published by BLS.
Base Period: the index value published for August 2026 (or the month of contract signing, if different) is the Base Value.
Adjustment: at each Adjustment Date, the Current Value is the most recently published three-month average of the index (the Averaging Window). The Escalation Factor equals Current Value divided by Base Value.
Cap: the Escalation Factor applied under this clause shall not exceed 1.10 or fall below 0.90 (a 10% cap and floor) in any single Adjustment Date, regardless of the index's actual movement.
[Replace bracketed terms with your contract's actual affected-portion definition and adjustment-date schedule before use. This is a drafting starting point, not legal advice.]
A food or agricultural escalation clause compares a current-period Producer Price Index value to the value at contract signing (the base period), turns that into a ratio, then applies the ratio to the contract price. BLS splits raw farm commodities (Farm Products, WPU01) from processed food inputs (Processed Foods and Feeds, WPU02); picking the wrong one indexes the contract to the wrong stage of the supply chain, and the series is unusually seasonal, which makes base-period selection especially important.
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