Data

The latest FAO Food Price Index, released Thursday, continued to fall in September, down 2.3 points below August and a full 11 points from the beginning of the year. This marks the fifth consecutive decrease.

The Cereals Price Index dropped 12.9 points from August and as much as 65 points from September 2012. The decline reflects a favorable supply outlook, particularly for maize and rice. The Oils/Fats Price Index remained unchanged from August. The Dairy, Meat, and Sugar Indices all rose slightly in September.

The latest FEWS Net Monthly Price Watch was released today, reporting considerable declines in the price of wheat and maize in the past few months. Between June and August, monthly average international maize prices dropped significantly due to improved harvest prospects in the United States; current harvest prospects suggest that prices may drop even further in the coming months. Global maize stocks are also projected to rise to their highest levels in nearly a decade.

The USDA released its latest World Agricultural Supply and Demand Estimates (WASDE) report today. The WASDE report provides monthly comprehensive forecasts of supply and demand for major U.S. and global crops, supplied by the USDA. Crops covered include wheat, coarse grains, rice, and oilseeds. This report can explain past and current global commodities trends, as well as predict trends for the coming year. This month's report estimates 2013/2014 global wheat production at a record 705.4 million tons. Global wheat supply estimated were also raised by 7.5 million tons this month.

The FAO has released the latest version of its Food Price Index . The June Index was almost 2 points below May levels, but remained 11 points higher than in June 2012. The slight decline came mainly from sugar and dairy prices.

The Cereals Price Index also declined slightly by 2.5 points in June on expectations of bumper global crops. Tight coarse grain supplies are expected to continue until harvests in the fall, however, and the Index remains 14 points above its June 2012 level.

The GIEWS Global Food Price Monitor for May was released today, citing a 5 percent rise in global maize prices. The increase in maize prices reflects planting delays in the US caused by cold, wet weather in key growing areas. Wheat export sales also increased in May, adding further upward pressure on prices. Higher maize prices were seen in many low-income countries in LAC due to higher transport costs and reduced outputs.