The price of European wheat is marching higher as the continent grapples with an intensifying heat wave.
Western Europe is currently experiencing record-breaking May temperatures that are hurting wheat crops in countries from France to Spain.
As a result, wheat traded on the Euronext exchange is currently at 214.75 euros ($249.54 U.S.) per metric ton, the highest level this year.
Heat waves in May can damage crops during the spring growing season, harming crops before they develop tolerance to summer heat.
The extent of damage varies based on a wheat crop’s growth stage, soil moisture, nighttime temperatures, and heat duration during the day.
The heat in France is particularly damaging as the country is the European Union’s (EU) largest grain producer.
Russia, the world’s largest wheat exporter, plans to ship 60 million tons of grain this season, the country’s farm ministry said recently.
So far this year, Russia has supplied 52 million tons of wheat to the global market
European Union wheat exports reached 20.94 million metric tons on May 24, up 6% from the same period in 2025, according to European Commission data.
