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The FAO reported that its world food price index reached its highest level since July 2011, with the cereal index rising and the vegetable oil index hitting an all-time high. Palm, soy, sunflower and rapeseed oil prices drove the vegetable oil gains.
The dairy index also rose on firmer import demand for butter and powders.
Broad gains in cereals and vegetable oils raise input costs for feed and oilseed-based products. Tight cereal stocks point to continued firmness in grain and oil prices.
fao.orgApr 11, 2021After 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.
After 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.
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.
