In this work, hydrolysis of spoiled wheat grains using dilute acid (5, 10%; 1 N HCl) was investigated and the effect of hydrolysis conditions on reducing sugars, soluble proteins, rheology and infrared spectra of the hydrolysates was determined. Hydrolysis with 10% acid concentration released more quantities of reducing sugar (16.47 mg/mL) at shorter hydrolysis times whereas 5% acid concentration produced higher protein content (28.74 mg/mL) for similar durations. Flow characteristics demonstrated an increased apparent viscosity of the hydrolysates retrieved after 4.5 h of hydrolysis possibly due to breakdown of hemicelluloses and lignin into sugars. Infrared spectroscopy showed release of carbonates after 1.5 h and 5.5 h of hydrolysis perhaps due to oxidation of lignin or a reaction between acid and sugars. The study highlights that acid hydrolysis would be a rapid and cost effective approach to produce fermentable hydrolysates for bio-processing industry applications while generating an avenue for waste grain utilization.