Corn and Wheat Markets Hit Hard by Drought and Trade Restrictions

The corn and wheat markets are being impacted by lower U.S. crop production estimates and trade restrictions from the Black Sea region.

A drought in Europe has resulted in yields that are less than expected, with France, Hungary, and Western Germany receiving below-average precipitation in July.

Corn prices have been increasing due to uncertainty surrounding U.S. and European production, while wheat prices have also risen as a result of increased export demand and a decline in European exports.