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The FAO Food Price Index rose for a third straight month in April to 130.7 points, its highest since February 2023. Vegetable oil prices jumped 5.9% month-on-month to their highest since July 2022, driven by energy costs and biofuel demand, while cereal prices rose only 0.8%.
Elevated vegetable oil prices tied to biofuel demand and energy costs support soybean oil and palm oil values, while cereal prices remain comparatively steady.
grainews.caReutersMay 8, 2026After 296 past bullish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), and -0.5% 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.
After 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.
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.
