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The FAO said global food prices reached a new all-time high, with the Food Price Index averaging 159.3 points in March, up 12.6 percent from February. The vegetable oil index rose 23.2 percent, driven by sunflower oil prices after the war disrupted Black Sea supplies.
Record food price readings reflect tight wheat, maize and vegetable oil supplies from the Black Sea conflict, and higher crude oil prices add cost pressure across the vegetable oil complex.
news.un.org© FAO/Giuseppe BizzarriApr 8, 2022
reuters.comGus TrompizApr 8, 2022After 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 149 past bullish report events, Palm Oil moved a median +0.5% over 5 sessions (57% higher; middle half -1.1% to +1.8%), and +0.8% over 20.
Not enough comparable past events yet for a historical read.
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.
