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The FAO Food Price Index averaged 168.8 points in July 2018, down 6.5 points (3.7%) from June, marking the first significant monthly decline since December 2017. Cereal, vegetable oil and other sub-indices all fell, with weaker palm and soy oil values pressuring the vegetable oil index to a two-and-a-half year low.
Wheat and maize prices rallied late in the month on EU and Russian production concerns and weather worries.
Broad declines across cereals and vegetable oils signal softer global feed and oilseed input costs, though late-month wheat and maize gains show support from production worries. Buyers should note that the index reflects price levels rather than a new supply shock.
potatoes.newsT.G. LynnAug 3, 2018After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
After 146 past bearish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +1.9%), and +0.4% over 20.
After 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.
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.
