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The FAO Food Price Index averaged 131.2 points in January 2023, down 0.8% from December and marking the 10th straight monthly decline. Cereal prices were roughly stable, with maize and rice up and wheat down 2.5% as global supplies grew.
Vegetable oil, dairy and sugar prices drove the overall decline.
Lower wheat prices and firmer maize prices shift feed grain cost relationships, while the sustained decline in vegetable oil prices eases input costs for compound feed.
potatopro.comShamil RamazanovFeb 4, 2023After 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 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% 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.
