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The FAO Food Price Index rose 1.1 percent to 170.8 points in February, led by cereals up 2.5 percent on US winter wheat and Argentine maize weather concerns. Dairy rose 6.2 percent while vegetable oils fell 3.1 percent to a 19-month low on palm oil stock buildup.
Higher global cereal prices support feed grain costs, while weaker vegetable oil prices, especially palm oil, reduce the cost of oilseed-based feed fats and proteins.
reliefweb.intFood, Agriculture Organization of the United NationsMar 1, 2018
thebeefsite.comMar 1, 2018After 237 past bullish report events, Milk (Class III) moved a median +0.0% over 5 sessions (51% higher; middle half -0.3% to +0.6%), and +1.2% over 20.
After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.
After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 96 past bearish report events, Palm Oil moved a median -0.1% over 5 sessions (48% higher; middle half -1.3% to +1.6%), and -0.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
