Wheat is one of the most important food commodities in Egypt. It is consumed at a high level to feed the Egyptian individual because it is relatively cheap compared to other sources. The domestic production of wheat is still insufficient to meet the consumer needs, which increased the food gap of wheat. This paper analyses the main features of the production and consumption of wheat in Egypt. Descriptive and quantitative analysis are used depending on data from the Ministry of Agriculture and Land Reclamation for the period (2000-2014). From the results, the total wheat production and consumption in Egypt are increased with an annual significant growth rate of 2.63% and 3.64%, respectively. Wheat self-sufficiency is about 55.78% in 2014. Water productivity for wheat is less than long clover and onion crops, with net return per unit of water 1954.09, 3655.71, and 4078.70 LE/1000M3, respectively. As average, the profitability per season for wheat is about 0.94 which is less than the profitability for long clover and onion crops representing 3.79 and 2.26, respectively. The area supply of wheat is investigated by using Marc Nerlove's model. Farmers are responsive inelastic to the price changes, net return, and production cost, for the period 2000 to 2014. Short and long run price elasticities of supply are 0.17 and 019 respectively. Farm price and net return of wheat are found to be an important variables affecting farmer's decision in terms of area allocated to wheat. The major factors influence the wheat consumption are the population growth and domestic production. While, the domestic production, number of population, and per capita consumption are the factors influence the wheat gap. The forecasting results of the ARIMA Models show that wheat production and consumption will increase over the next years, and the food gap of wheat would increase to about 12457.64 thousand tons with self-sufficiency rate of 46.43% for the year 2025. Thus, more efforts should be done by the state to increase cultivated area of wheat and its productivity during the next years, raising the farm prices until its net return equal with net return of competing winter crops, introducing new technologies in wheat production and rationalizing per capita consumption to reduce the food gap of wheat.