Wheat and corn futures have surged to their highest levels in three years. A significant disruption has led to the absence of six million tons of grain, predominantly wheat, from global monthly trade. Corn prices are climbing as European harvest prospects weaken due to extreme heat, reducing projected yields from 57 million tons in 2025 to below 50 million tons. If current trends continue, prices for wheat and corn could increase by several tens of percent, possibly reaching a record $13 per bushel in 2022 dollars. Since June 2026, Russia and Ukraine have intensified attacks on each other's Black Sea ports, raising concerns over supply disruptions. North African Arab countries, particularly Egypt—the world's largest wheat importer—are increasingly vulnerable, according to analysts.
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2August 30, 2026 2.1K 4
