This year's multiple droughts, which occurred on the back of already disrupted agricultural trade flows from the Russa-Ukraine war, will likely pressure corn, rice, and livestock supplies and lead to elevated prices of agricultural commodities. Although largely contained so far, credit risks are mounting and spreading to more sectors across the agricultural supply chain. Increasing recession risk limits companies’ ability to offset food and agricultural input-cost inflation by passing costs to consumers. Consumer price inflation and input cost volatility may become more prevalent credit risks for agribusiness and consumer products companies if future droughts are more severe and occur more frequently.