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CaixaBank Research says international food prices peaked in spring 2022 and have since fallen, with wheat down over 40% and corn around 20%. Prices remain about 30% above the five-year average.
Currency depreciation against the dollar has limited the pass-through to consumer prices in many emerging economies.
Lower global grain prices ease feed costs, but a strong dollar cushions the decline for importers with weak currencies. Import-dependent feed buyers in emerging markets still face high effective costs.
caixabankresearch.comBeatriz Villafranca SerranoDec 22, 2022After 43 past macro events, Rough Rice moved a median +0.5% over 5 sessions (56% higher; middle half -2.0% to +2.3%), and +1.6% 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.
