Corn is 50% more expensive than a year ago. The risk of a migration crisis returns.

The agricultural market is experiencing significant price increases for grains due to geopolitical tensions and weather conditions. Recent reports indicate that wheat prices have risen by 25% compared to last year, although they are lower than the peak crisis prices from 2022. Despite recent price drops, experts warn that costs may rise again due to ongoing energy price shocks. Ukraine's logistical challenges and poor harvests in Europe are contributing to global price fluctuations, particularly for corn. The situation is further complicated by Russia's plans to increase grain transport through the Baltic Sea, which may not lower prices significantly. Diplomatic efforts are underway to stabilize the situation, but the potential for renewed migration crises looms as food prices rise in Africa.