Europe's Drought Threatens Next Year's Harvest as Wheat Prices Soar

A severe drought is gripping Europe, threatening the fall planting season and putting next year's harvest at risk. The dry conditions are affecting crops such as wheat, barley, and rapeseed, which are typically sown in August and September.

Farmers like James Mills in Yorkshire, England, are holding off on planting until they receive meaningful rain. 'The land is so unbelievably dry that we probably need an inch or two of rain to make a difference,' he said.

Mark Meadows, who grows wheat, barley, and rapeseed in Warwickshire, England, described the situation as dire: 'We had 2.75 millimeters of rain last Wednesday morning, and it had gone by noon.'

The drought is having a significant impact on grain prices, with wheat futures in Paris jumping 19% over the past two months.