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The FAO Food Price Index stood at 118.5 points in December 2023, down 1.5% month on month and 10.1% year on year, with 2023 averaging 124.0 points. The cereal index rose 1.5% in December on wheat export tensions and logistics disruptions, while rice prices climbed on Asian purchases and Indian export restrictions.
Higher December cereal prices reflect logistics constraints in Ukraine and Black Sea tensions, and Brazil second-crop concerns support corn. Rice tightness from export curbs keeps Asian rice prices firm.
ukragroconsult.comJan 5, 2024After 769 past bullish report events, WHEAT moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.
After 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 88 past bullish report events, RICE moved a median +0.0% over 5 sessions (50% higher; middle half -1.5% to +2.1%), and +2.5% over 20.
After 114 past neutral report events, SBO moved a median +0.1% over 5 sessions (52% higher; middle half -1.7% to +1.4%), and +0.5% 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.
