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The World Bank says global food commodity prices stabilized in April 2024 after six quarterly declines, and projects its food price index to fall 6 percent in 2024 and 4 percent in 2025. It flags risks from energy and fertilizer costs, Red Sea and Suez disruptions, weather shortfalls and future biofuel policy.
Easing energy and fertilizer costs support lower production costs for feed grains, but Red Sea rerouting and possible weather shocks keep upside risk in grain and oilseed prices.
blogs.worldbank.orgJohn Baffes, Dawit MekonnenJun 6, 2024After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% over 20.
After 42 past bearish report events, Urea moved a median +0.3% over 5 sessions (57% higher; middle half -1.9% to +3.3%), and +2.9% 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.
