
The FAO Food Price Index for October was 133.9, down 1.2% from September but still 5.9% above its year-earlier level. The grain index fell 4.5% as wheat prices reversed a four-month rise on sluggish demand and improved production prospects, especially in Argentina; corn, barley and sorghum also declined, while rice gained 1.6% amid harvest delays and adverse weather.
Weaker demand and better crop prospects pressure feed-grain prices, while delayed harvests and unfavorable weather lend support to rice. The account reports the same October FAO index results as the other report in this batch.
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 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.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.