Droughts in key agricultural regions, including the US Midwest, Europe, China, and India, are causing significant crop damage and raising concerns about global famine and inflation. Adverse weather conditions and trade disruptions, particularly in the Black Sea region, are exacerbating the situation. Despite a recent drop in grain prices from record highs, volatility remains due to concerns over harvest yields and the potential for unexpected weather to drive prices up. The drought is expected to impact the global food supply chain, particularly through the impact on corn production, and is part of a larger trend of climate change impacting agricultural production. The situation is further complicated by the ongoing conflict in Ukraine, a major supplier of corn and vegetable oil, and the worst drought in Europe in 500 years.