The AMIS Market Monitor provides a synopsis of major developments in international commodity markets, focusing on wheat, maize, rice and soybeans. The analysis is a collective assessment of the member organizations of AMIS concerning the international market situation and outlook.

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FAO Food Price Index Increases for First Time in Five Months

The FAO Food Price Index rose in February for the first time in five months, driven by increasing cereal, meat, and vegetable oil prices. Despite the increase, however, the Index remains nearly 35 percent below the record high reached in March 2022.The Cereal Price Index rose slightly more than 1 percent in February but remained 3.5 percent below its February 2025 level. Wheat prices increased due to concerns about cold weather in Europe and the United States, as well as transportation disruptions in Russia and the Black Sea region.

Agricultural Market Information System (AMIS) Market Monitor February 2026

/sites/default/files/2026-03/AMIS_Market_Monitor_February_2026.pdf
Feb 6th, 2026
Grains and oilseeds export prices edged slightly lower in January, with the IGC’s Grains and Oilseeds Index reflecting ample global supplies and year‑on‑year declines across most commodities except soybeans. Fertilizer prices continued to ease across major nutrients, although urea prices remained elevated due to rising natural gas costs.
As February 2026 begins, market fundamentals and prevailing uncertainties point to a cautiously stable outlook. Robust supplies, diversified trade flows, and adequate inventories suggest that the agrifood system can absorb moderate shocks. However, this stability should not be taken for granted. Unexpected disruptions could quickly increase volatility, underscoring the importance of open trade and greater transparency. Ongoing vigilance and sound policy choices will be essential for sustaining market stability.

Agricultural Market Information System (AMIS) Market Monitor March 2026

/sites/default/files/2026-03/AMIS_Market_Monitor_March_2026.pdf
Mar 6th, 2026
In February, wheat prices firmed amid adverse weather, logistics constraints, and geopolitical tensions, despite globally ample supplies. FAO’s initial forecast for 2026 points to a 3 percent production decline due to reduced sowings and a return to average yields, with cold spells in parts of Europe and dryness in North America posing additional risks. Maize prices remained broadly stable, as strong demand for US supplies offset weaker market conditions in South America. Rice prices were mostly steady amid soft import demand and improving supplies across Asia. Soybean prices rose moderately on tighter US supplies and firmer Argentine markets despite mounting trade uncertainty. Escalating conflict in the Near East could further amplify risks to global agriculture by pushing up energy and fertilizer prices, thereby increasing production and transport costs for farmers worldwide.

FAO Food Price Index Declined in January, Pointing to Cautiously Optimistic 2026 Outlook

The FAO Food Price Index fell in January for the fifth straight month, to nearly 23 percent below the record high seen in March 2022. Sugar, meat, and dairy prices drove the decline. The Cereal Price Index rose marginally in January but is still nearly 4 percent below its January 2025 level. Wheat prices fell 0.4 percent, with strong global supplies balancing growing demand and concerns about weather in several major producing regions. Strong supplies drove maize prices down slightly as well.

FAO Food Price Index Declines for Third Consecutive Month

The FAO Food Price Index fell for the third month in a row in November, declining by 1.2 percent. Prices declined for all commodities except cereals. The Index in November stood 2.1 percent below its year-earlier level and nearly 22 percent below the peak of March 2022.

Agricultural Market Information System (AMIS) Market Monitor December 2025

/sites/default/files/2025-12/AMIS_Market_Monitor_December_2025.pdf
Dec 5th, 2025
As we close out 2025, global agricultural markets remain well supplied, while price movements across key commodities have been mixed throughout the year: rice and wheat fell below their year earlier levels, maize held steady, and soybeans strengthened. Much of the year was shaped by uncertainty surrounding trade policies, though November brought renewed optimism, especially regarding trade prospects between China and the United States. Fertilizer prices eased, yet the widening gap between input costs and crop values continues to weigh on demand. With the end of the US federal government shutdown, several reports essential for market transparency were restored. The next edition of the Market Monitor will be published on Friday, 6 February. With best wishes for a successful and prosperous 2026!

Agricultural Market Information System (AMIS) Market Monitor November 2025

/sites/default/files/2025-11/AMIS_Market_Monitor_November_2025.pdf
Nov 7th, 2025
Markets for wheat, maize, rice and soybeans remain well supplied as of November. Global crop conditions remain generally favorable, though localized challenges persist. Early-season drought is affecting winter wheat sowing in China, the European Union, and Ukraine, while excessive rains are hampering maize harvesting in China and the United States. In addition, tropical storms in Viet Nam and Thailand have damaged rice crops. Despite these disruptions, prices declined for all major crops except soybeans, which saw slight gains. Fertilizer prices also eased but remain high relative to crop values, weighing on fertilizer demand. The outlook is clouded by the US government shutdown, which has been disrupting the release of crucial market reports, coupled with policy uncertainty and evolving trade policies.

Cereal, Vegetable Oil, and Fertilizer Prices Continue Decline in September: FAO Food Price Index and AMIS Market Monitor Released

Reductions in cereal and vegetable oil prices contributed to a slight decline in the FAO Food Price Index in September. The Index remains nearly 20 percent below its March 2022 peak but rose 3.4 percent from September 2024.

Agricultural Market Information System (AMIS) Market Monitor October 2025

/sites/default/files/2025-10/AMIS_Market_Monitor_October_2025.pdf
Oct 3rd, 2025
In October, wheat harvesting wraps up and the harvesting of maize and soybeans begins across the northern hemisphere. In the southern hemisphere, wheat crop is developing, and farmers are starting to plant maize and soybeans. Rice harvests are ongoing in China and Southeast Asia. Overall, crop prospects are good. In September, wheat, maize, and rice prices generally declined, owing to ample supplies and strong competition among exporters. However, soybean prices stayed firm in Brazil and the United States, balancing out price drops in Argentina caused by changes in export taxes. Despite these positive trends, ongoing trade tensions have triggered adjustments in trade flows of some commodities, with potential implications on farmers' margins in producing countries and consequently future planting decisions.
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