Wheat and corn prices have climbed to their highest levels in three years. A shortfall of six million tons of grain, mainly wheat, has removed that volume from the global trade monthly, due to a critical supply issue. Corn markets are also rallying amid declining European harvest forecasts caused by extreme heat, with projected yields dropping from 57 million tons in 2025 to below 50 million tons. If current trends continue, prices for wheat and corn could increase by tens of percent, potentially reaching a record $13 per bushel in 2022. Since June 2026, Russia and Ukraine have increased hostilities along Black Sea ports, impacting maritime trade. North African nations, particularly Egypt, the largest importer of wheat, face heightened risk of supply disruptions, according to analysts.
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