Global grain prices rise to highest level since May 2024
Global grain prices rose by 2.2% in August 2026 compared with July. The FAO Cereal Price Index climbed to 116.3 points, its highest level since May 2024. Prices increased across all major grains during the month.
Global wheat prices rose by 2.6% month-on-month and by 15% compared with August last year. The market was supported by prolonged disruptions to Black Sea exports, deteriorating production prospects in parts of Europe due to hot and dry weather, as well as a weaker US dollar.
International corn prices increased by 2.5% in August. Prices were supported by concerns over crop prospects in parts of the US Corn Belt and deteriorating production forecasts in the EU due to prolonged heat and drought.
Additional support for the corn market came from strong demand from ethanol producers and the feed industry, as well as disruptions to exports from Ukraine. Overall, the grain market was supported by strong global demand, weather risks in key producing countries and uncertainty over supplies from the Black Sea region.
Other feed grains also recorded price gains. Global sorghum prices increased by 3.9% during the month, while barley prices rose by 2.6%.
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