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The World Bank's Pink Sheet reported energy prices rose 1 percent in March, led by a 1 percent gain in crude oil, while non-energy prices fell almost 1 percent on lower metals. Agricultural prices rose 1 percent, led by cocoa (+18 percent), maize and soybean meal (+5 percent each), and fertilizer prices also edged up, led by TSP and DAP.
Monthly benchmark data shows firmer maize, soybean meal and phosphate prices, which lifts feed input costs modestly. The energy gain also slightly supports biofuel and freight costs.
blogs.worldbank.orgJohn Baffes, Maria Hazel MacadangdangApr 4, 2018After 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 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.
After 131 past bullish report events, Crude Oil (WTI) moved a median +1.2% over 5 sessions (60% higher; middle half -1.3% to +3.4%), and +2.9% over 20.
After 66 past bullish report events, DAP moved a median 0.0% over 5 sessions (41% higher; middle half -0.6% to +0.7%), and +0.3% 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.
