Russia, Ukraine, and Kazakhstan are the three major grain producers in Central Eurasia. In the context of the current food-price crisis, these countries might be presented with a window of opportunity to reemerge as the major grain exporters if they succeed in increasing their productivity. Global grain production is highly sensitive to a combination of internal and external factors, such as institutional changes, land-use changes, climate variability, water resources, and global economic trends. Agroecological scenarios driven by climate models suggest that land suitability in this region is likely to change in future, due to impacts of climate change, such as CO2 fertilization, changes in the growing season, temperature, precipitation, frequency, and timing of droughts and frosts. Grain production in Russia, Ukraine, and Kazakhstan grew steadily between 2002 and 2010 following a 10-year long depression caused by collapse of the USSR. However, in the summer of 2010 Russia and its neighbors experienced an unprecedented heat wave, accompanied by severe wild fires. As news of this disaster became known international grain prices increased dramatically. The future of grain production in this region will be determined by the interplay of climatic variability and multiple non-climatic factors and is likely to have significant impact on both global and regional food security over the coming decades.