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The FAO Food Price Index averaged 121.4 points in August, down 2.1% from July, with cereals down 0.7% on wheat and maize declines. The FAO All Rice Price Index rose 9.8% to a 15-year high after India's ban on non-basmati white rice exports.
Global cereal prices are softer on ample maize and wheat supplies, but rice prices are firm because of India's export ban. Rice-based feed costs remain elevated in Asia.
fao.orgAug 9, 2023After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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.
After 88 past bullish report events, Rough Rice moved a median +0.0% over 5 sessions (50% higher; middle half -1.5% to +2.1%), and +2.5% 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.
