Europe heatwave spikes grain prices and leaves tourists suffering

A prolonged heatwave across Europe in July 2026 has driven record temperatures, with forecasts of up to 44 °C in parts of Spain and 41 °C in France. The extreme heat has raised concerns for cereal crops; wheat futures on Euronext rose to about €206 per tonne and corn contracts to €236.50 per tonne as growers in France and the United States face reduced yields and quality risks. A diesel shortage in Russia, caused by attacks on its refineries, threatens wheat harvests and may lead to future production revisions.

The heatwave has also taken a heavy toll on public health and the environment. France reported roughly 1,000 excess deaths since late June, Spain more than 1,000, and several heat‑related fatalities were recorded, including children. Forest fires have burned nearly 20,000 ha across Portugal, Spain, France and Greece, prompting evacuations of thousands of residents. Tourists in Barcelona describe waking “completely exhausted” after sleeping in apartments without air‑conditioning and struggling with the oppressive heat.

Both the agricultural markets and the tourism sector are feeling immediate pressure, while officials warn that continued high temperatures could exacerbate crop losses and trigger additional wildfires.