Spain is experiencing a severe drought in the east, leading to a significant reduction in cereal harvest, while the west half has abundant water reserves. The country's cooperatives have revised the production estimate for the year to 22.5 million tons, more than doubling last year's figure. However, the European Union (EU) has introduced lower prices for the new 2024-25 marketing campaign, which are below production costs. Meanwhile, global production of grains is expected to reach a record 2,312 million tons, but consumption is predicted to exceed the harvest, resulting in a decrease in stocks. The second half of the year is expected to bring significant changes to the EU, including the presidency of Hungary, changes in the European Commission, and the potential integration of Ukraine into the EU, which could change the EU's budgetary framework.