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The FAO Food Price Index rose 1.3% in July over June, driven by higher prices following Russia's exit from the Black Sea grain deal and India's restrictions on non-basmati white rice. Hoarding of rice is reported in some regions as El Niño arrives earlier than expected.
A broad rise in the FAO index alongside rice export curbs points to firmer global grain and food commodity prices, supporting feed cost pressure.
apnews.comThe Associated PressAug 4, 2023After 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.
After 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.
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.
