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FAO's biannual Food Outlook expects adequate 2024/25 supplies of most major food commodities, with record rice and oilseed output and modestly lower wheat and maize production. It estimates the 2024 global food import bill will rise 2.5 percent to over $2 trillion.
Record oilseed output and adequate supplies point to limited price pressure on soybean meal and other protein feeds, while the modest decline in maize output is a mild support for corn.
reliefweb.intJun 13, 2024After 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 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
After 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% over 20.
After 87 past bearish report events, Rough Rice moved a median +0.0% over 5 sessions (53% higher; middle half -2.1% to +2.4%), and +1.1% 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.
