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.

Category Type
Topic

Agricultural Market Information System (AMIS) Market Monitor February 2025

/sites/default/files/2025-02/AMIS_Market_Monitor_February_2025.pdf
Feb 7th, 2025
Except for maize, where international export prices reached a 15-month peak amidst supply concerns, global prices of AMIS crops are currently lower than they were a year ago. However, concerns about winter wheat crop conditions in parts of the EU, the Russian Federation, Ukraine, and North America provide support to quotations in some origins.

Markets are also watching for potential changes in US trade policies and the responses from trading partners. This month's feature article reveals no evidence of long-term global yield growth deceleration. Instead, slow yield growth in certain commodities, regions, or countries appears to have been offset by accelerated growth elsewhere.

Yet, caution is in order: Global temperatures in 2024 were the warmest since records began in 1850, necessitating developments of cultivars resilient to temperature and precipitation variations.

Food Prices Reach Highest Level Since April 2023

Rising dairy and vegetable oil prices drove the FAO Food Price Index up by 5.7 percent from November 2023 and to the highest value seen since April 2023. The Index remained more than 20 percent below the peak reached in March 2022, however.

Agricultural Market Information System (AMIS) Market Monitor December 2024

/sites/default/files/2024-12/AMIS_Market_Monitor_December_2024.pdf
Dec 6th, 2024
Global prices for AMIS crops are currently lower than they were a year ago. The maize subindex has declined by 1.5%, while wheat and rice prices have fallen by approximately 10%, and soybean prices have dropped by nearly 20%. This indicates a relatively stable global market situation for the current marketing season.

However, uncertainties persist, particularly concerning potential shifts in U.S. trade policies and the reactions from trading partners. With 2024 projected to be the warmest year on record, variations in rainfall and temperature are expected to have mixed impacts on crop yields, varying by commodity and region.

Agricultural Market Information System (AMIS) Market Monitor November 2024

/sites/default/files/2024-11/AMIS_Market_Monitor_November_2024.pdf
Nov 8th, 2024
In October 2024, wheat prices reached multi-month highs due to weather-related planting delays in parts of the northern hemisphere, although they later eased as field conditions improved. Maize prices also strengthened slightly despite swift harvest progress in the United States while rice and soybean quotations declined. Vegetable oil prices increased, resulting from further tightening in market fundamentals. India removed its minimum export price for non-basmati white rice, while import restrictions were eased in Türkiye (maize) and Bangladesh (rice, vegetable oils). If La Niña conditions develop in the coming months, they are expected to be weak and short-lived. Finally, FAO Food Price Index, a benchmark index for world food commodity prices, reached its highest level since April 2023 driven mainly by higher vegetable oil prices.

Agricultural Market Information System (AMIS) Market Monitor October 2024

/sites/default/files/2024-10/AMIS_Market_Monitor_October_2024.pdf
Oct 4th, 2024
In August 2024, global temperatures reached record highs for the 15th consecutive month. Favourable rainfall improved wheat prospects in Australia, while excessive wet weather caused harvest delays in Canada. Despite improvements in Panama Canal crossings, low water levels in the Mississippi River disrupted supply chains, complicating exports of maize and soybeans in particular via the US Gulf. Reflecting
weather-influenced market fundamentals, the export prices for wheat, maize, and soybeans all increased in September, though
they remained below their levels from a year earlier. Rice prices stayed softer. Fertilizer markets, generally well-supplied, anticipate
seasonally increased activity in the last quarter of the year. In September, India lifted its 14-month export ban on non-basmati rice,
replacing it with a minimum export price.

Agricultural Market Information System (AMIS) Market Monitor September 2024

/sites/default/files/2024-09/AMIS_Market_Monitor_September_2024.pdf
Sep 6th, 2024
With 2024 likely to rank among the warmest years on record, weather continued to dominate commodity market news in recent weeks, in both positive and negative ways. While the forecast for 2024 global maize output was trimmed as heat constrained yields in parts of the European Union, Mexico and Ukraine, global soybean production forecast was lifted on account of favourable weather in the United States. Crossings in the Panama Canal are approaching their usual levels, while shipping disruptions in the Red Sea continue. The current edition broadens the coverage of developments in the fertilizer markets and introduces new indicators. Although easing from their peaks, fertilizer cost indices and fertilizer crop price ratios remained above their 2019 average in almost all regions. A page on vegetable oils was also added, covering main market developments.

Cereal Prices Fall in June, Concerns over Weather Remain

After three consecutive months of increasing prices, the FAO Food Price Index remained steady in June, with rising vegetable oil, sugar, and dairy prices balancing falling cereal prices. The Index remained 2.1 percent below its June 2023 level and almost 25 percent below the peak seen in March 2022.

Subscribe to AMIS Market Monitor