Human iron (Fe) deficiency affects two billion people and causes a range of serious health disorders including anaemia and depressed immune function. Iron‐biofortified cereals could greatly improve food security in developing countries where dietary diversity, food fortification, and supplementation programs are limited. In this article, we present a synopsis of human Fe deficiency and highlight gross national income and anaemia prevalence around the globe in conjunction with wheat and rice production and consumption. We then describe the genetic pathways underlying Fe uptake and nutrition in plants and summarize the effects of altering specific aspects of these genetic pathways on rice grain Fe. Building on valuable information gleaned from rice, we then delve into the wheat genome and demonstrate with case studies how recently released wheat genome assemblies and gene expression platforms greatly facilitate gene discovery and can play an integral role in the development of Fe biofortified bread wheat.