
The FAO Food Price Index rose 1.2% in November 2020 to 134.4 points, its fourth straight monthly gain and highest since June 2011. The cereal index rose 3.1%, with wheat prices reaching their highest since May 2011 and maize export prices edging up, while the dairy index climbed 3.4%.
Higher wheat and maize export prices raise the cost of imported feed grains, and firm dairy prices point to stronger global demand for dairy ingredients.
After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% 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 237 past bullish report events, Milk (Class III) moved a median +0.0% over 5 sessions (51% higher; middle half -0.3% to +0.6%), and +1.2% 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.