The FAO Food Price Index rose 1% in April 2025 from March, led by grains and cereals, dairy and meat, while vegetable oils and sugar fell. The FAO attributed grain price increases partly to new U.S. import tariff policies, including the Mexico exemption and a 90-day suspension of tariffs above 10%.
Tariff adjustments and reduced Russian wheat exports lift global cereal prices, supporting feed grain costs, while lower vegetable oil prices ease pressure on oilseed-based feed ingredients.
After 182 past bullish policy events, Wheat (SRW) moved a median +0.1% over 5 sessions (52% higher; middle half -1.9% to +1.4%), and -0.3% over 20.
After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% over 20.
After 351 past bearish policy events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.7% to +1.8%), and -0.2% over 20.
After 400 past bearish policy events, Palm Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.1%), and +0.2% 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.