The USDA's latest World Agricultural Supply and Demand Estimate has been released, predicting low global wheat and corn stocks for 2012/2013. Global wheat supplies are projected to be slightly lower due to reduced production prospects in Argentina and lower reported production in Russia. US corn ending stocks are projected to be 44 million bushels lower; higher US wheat disappearance will leave the balance sheet historically tight and is expected to support continued strong and volatile prices.

The latest FAO Food Price Index averaged 209 points in December, down 2 points from November and the lowest level seen since June 2012. The drop is due mainly to declines in grains and oils/fats. Overall, global food prices in 2012 were 7 percent lower than in 2011.

Cereal prices dropped 6 points in December, led by weaker demand for feed grain and larger maize exports from South America. Rice prices also dipped due to expectations of a good harvest.

Global discussion surrounding agricultural investment and funding has increased in recent years, with farmers, development advocates, and policymakers alike calling for wider investments to fight hunger and poverty. The 2012 edition of the FAO's State of Food and Agriculture Report follows closely on this discussion, focusing on the importance of farmers as investors and the need for a stronger global enabling environment.

US wheat supplies are expected to increase by the end of 2013, in part because of weakened export demand, according to the latest Wheat Outlook from the USDA Economic Research Service. Global wheat production is also forecast to increase by 3.7 tons due to increases in China, Australia, and Canada. World ending stocks are predicted to be 2.8 million tons higher than previously estimated.

The Agricultural Market Information System (AMIS) has released the latest edition of its monthly Market Monitor. This month's report sees stabilized world markets as forecasts for 2012-2013 crop outlooks become more finalized. Despite this stabilization, however, attention should be paid to ongoing weather concerns, particularly drought affecting US winter wheat.

The latest FAO Food Price Index was released today and is down three points from October's Index. This is the lowest point since June 2012. With the exception of dairy, all commodities covered by the Index fell in November.

The Cereals Price Index is down four points from October, but is still 27 points higher than it was in November 2011. Weakening global rice and wheat prices drove the fall and compensated for higher maize prices.

The November issue of the FAO Monthly News Report was released today. The report covers ongoing global and regional trends in grain prices and policies. This month's report includes articles on global corn inventories and prices, EPA ethanol mandates, and the wheat genome project.

The latest FAO Food Outlook finds that, on average, global food prices have been 8 percent lower during 2012 than they were in 2011. Global food import bills are forecast at USD 1.14 trillion, which is 10 percent lower than the record import bills seen in 2011.

The Agricultural Market Information System (AMIS) has released the third edition of its monthly Market Monitor. The report examines global agricultural market and price trends.

In its latest Monthly Food Price Watch, FEWS NET reports that global rice production for 2012/2013 is expected to be the highest on record. Global soybean production prospects also improved with a 10 percent increase for 2012/2013; however, strong global demand is expected to keep soybean and soybean oil prices high. While global wheat prices remain high, production is only expected to decline by six percent. However, trade policies in key wheat exporting countries could exert further pressure on prices.