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The World Bank reports the Agricultural Price Index was 19% higher than January 2021 as of July 29, 2022, with maize and wheat up 16% and 22% and rice about 14% lower. It says the war in Ukraine will keep commodity prices historically high through 2024, with fertilizers among the most affected.
Sustained high grain and fertilizer prices raise feed costs for buyers and reinforce upside risk for corn and wheat as Black Sea and fertilizer supply disruptions persist.
worldbank.orgSep 16, 2022After 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 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.
