📝 Executive Summary
Europe's prolonged heat wave has left farmland parched, raising alarm over 2027 wheat and corn output. The dry spell threatens autumn planting, which is critical for winter wheat establishment and sets the tone for next year's harvest. With topsoil moisture depleted across major EU growing regions, farmers face difficult sowing decisions and the risk of lower yields before the season begins. The weather shock adds to global grain supply uncertainty, with wheat and corn futures likely to climb as the market prices in tighter European production.