Global food prices climb with wheat and corn up 15% in Q3
Global agricultural commodity prices rose during the third quarter of 2026, with the Bloomberg Agriculture Index increasing by 13%, marking the strongest quarterly gain since March 2022. This surge was driven by supply disruptions in the Black Sea region and harsh weather conditions that affected the production of key crops such as wheat and corn. Military tensions between Russia and Ukraine, along with changing weather patterns—including the El Niño phenomenon—have led to downward revisions in yield forecasts and increased price pressures. Notably, China's continued purchase of American soybeans and its trade agreements with the United States have also influenced the market. However, expectations of increased U.S. supplies tempered the recent upward wave, leading to a temporary dip in prices during Thursday morning trading. Despite this, the market remains vulnerable to volatility due to ongoing climatic and political developments.
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