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The FAO Food Price Index fell 13.7% in 2023 versus 2022 averages, with grain prices down 15.4%, while sugar and rice rose. December's index dropped about 10% from December 2022 levels.
Lower grain prices reduce feed cost pressure for buyers, while rice and sugar strength driven by Asian climate effects and El Niño concerns signals firmer prices in those markets.
pbs.orgAssociated PressJan 5, 2024After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% over 20.
After 88 past bullish report events, Rough Rice moved a median +0.0% over 5 sessions (50% higher; middle half -1.5% to +2.1%), and +2.5% 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.
