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The FAO Food Price Index averaged 163.5 points in October, down 0.9% from September and 7.4% lower year on year. The vegetable oil index fell 1.5% to its lowest since April 2009, on weak palm oil import demand and large exporter stocks.
Dairy and meat prices fell, while the cereal index rose 1.3% on firmer US maize.
Weak global demand and large stocks keep vegetable oil prices under pressure, including palm and soy oil. Firmer US maize quotations point to modest support for feed grain prices.
foodingredientsfirst.com02 Nov 2018Nov 2, 2018After 96 past bearish report events, Palm Oil moved a median -0.1% over 5 sessions (48% higher; middle half -1.3% to +1.6%), and -0.9% over 20.
After 114 past neutral report events, Soybean Oil moved a median +0.1% over 5 sessions (52% higher; middle half -1.7% to +1.4%), and +0.5% 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 273 past bearish report events, Milk (Class III) moved a median -0.2% over 5 sessions (39% higher; middle half -1.3% to +0.4%), and -1.4% 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.
