We examine the extent to which foliar monoterpenes are trapped in the epicuticular waxes as part of an investigation into their role in natural defense against folivores. We monitored concentrations in white spruce (Picea glauca (Moench) Voss) previous-year foliage and expanding foliage and their epicuticular waxes over the 2010 (14 trees) and 2011 (25 trees) growing seasons. In 2010, concentrations were low in the spring and increased over the summer; in 2011, they stayed low. The monoterpene profile of individual trees was similar between years and showed a consistent pattern over the growing season; in expanding foliage, δ-3-carene was only present in spring, whereas bornyl acetate increased over the growing season. Individual wax monoterpene profiles correlated with those of foliage, but the total concentration showed a different phenological pattern. Total content remained constant throughout the growing season on previous-year foliage but decreased on expanding foliage. Electron microscopy suggests this is due to changes in stomatal wax plugs and their role in blocking evaporation from the stomata. These findings suggest that insects contacting the leaf surface will receive accurate information from the wax chemical composition about the monoterpene mix but not about overall monoterpene levels.