Grain Prices Hit Highest Level Since May 2024 Amid Black Sea Disruptions

Global grain prices have reached their highest level since May 2024, according to the latest data from the Food and Agriculture Organization (FAO). In August 2026, global grain prices rose by 2.2% compared to July, with the FAO Cereal Price Index climbing to 116.3 points.

The price increase was driven by several factors, including prolonged disruptions to Black Sea exports, deteriorating production prospects in Europe due to hot and dry weather, and a weaker US dollar.

Global wheat prices rose by 2.6% month-on-month and by 15% compared with August last year, while international corn prices increased by 2.5%. Other feed grains also recorded price gains, with global sorghum prices rising by 3.9% and barley prices increasing by 2.6%.