# Wild weather sparking food inflation

> Extreme weather is driving up global food prices, with drought hitting U.S. and Russian wheat and dry conditions affecting Brazilian soybeans. Flooding in Vietnam, Malaysia and Indonesia is damaging rice fields and oil palm stands. The Bloomberg Agriculture Spot Index has risen 28% since late April to a four-year high.

- Date: 2020-10-23 · published 2020-10-23T12:00:00.000Z
- Category: weather · region Global · magnitude high
- Page: https://feedsoft.ai/events/5718-wild-weather-sparking-food-inflation
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Rough Rice](https://feedsoft.ai/c/RICE.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Simultaneous crop shortfalls in wheat, soybeans, rice and palm oil tighten global feed and vegetable oil supplies. This points to sustained upward pressure on feed ingredient prices.

## Read by commodity

- SOY: bullish ▲
- RICE: bullish ▲
- WHEAT: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2021-11-01 | [Wheat Price Surge Threatens to Speed Up Food Inflation - TT](https://feedsoft.ai/events/7314-wheat-price-surge-threatens-to-speed-up-food-inflation-tt.md) | +9.3% | +8.1% |
| WHEAT | 2018-11-08 | [Ag Weather Forum](https://feedsoft.ai/events/61971-ag-weather-forum.md) | -0.6% | +1.1% |
| WHEAT | 2018-04-27 | [Farming News - Weather impacting on the Wheat Markets](https://feedsoft.ai/events/11223-farming-news-weather-impacting-on-the-wheat-markets.md) | +3.6% | +2.9% |
| WHEAT | 2025-03-17 | [Market Snapshot \| Iffy U.S. weather sparks wheat rally - Pro Farmer](https://feedsoft.ai/events/5622-market-snapshot-iffy-u-s-weather-sparks-wheat-rally-pro-farmer.md) | +5.3% | +2.5% |
| WHEAT | 2018-08-02 | [Wheat Spike - AG INFORMATION NETWORK OF THE WEST](https://feedsoft.ai/events/9688-wheat-spike-ag-information-network-of-the-west.md) | +3.5% | +1.5% |
| SOY | 2026-09-04 | [Will a ‘Super’ El Niño Impact the Weather and Food Production in 2026? - Bloomberg](https://feedsoft.ai/events/17398-will-a-super-el-nino-impact-the-weather-and-food-production-in-2026-bloomberg.md) | -2.0% | -2.1% |
| SOY | 2023-07-19 | [Dry weather in Canada is fueling speculative canola prices](https://feedsoft.ai/events/35145-dry-weather-in-canada-is-fueling-speculative-canola-prices.md) | +1.6% | -11.3% |
| SOY | 2017-04-01 | [Rolling the dice on weather](https://feedsoft.ai/events/71338-rolling-the-dice-on-weather.md) | -0.4% | +1.4% |

## Sources

- farmprogress.com: https://www.farmprogress.com/crops/wild-weather-sparking-food-inflation

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.