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.

As one of the world's most important staple crops, wheat plays a crucial role in the global agricultural economy and in global food security. The grain accounts for an estimated 20 percent of calories consumed throughout the world. But a burgeoning global population and changing climate are putting ever greater pressure on wheat farmers to produce bigger yields. A new multinational initiative, the Wheat Yield Network, has recently been launched to help raise global wheat yields and develop new wheat varieties that are better adapted to meet the world's changing needs.

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 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.

Wheat production in 2012 fell below the record seen in 2011, and ending stocks are expected to decline significantly. Wheat use, on the other hand, is expected to drop based on lower feed use in China and the EU.

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 FAO released today its Food Price Index for November. The Index fell slightly in October to 213 points, largely due to lower international prices for cereals, oils, and fats. The report also finds that for the first 10 months of 2012, international food prices were on average eight percent lower than during the same period 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.

This third edition finds that the global supply and demand balance for wheat and maize continues to tighten; however, the balance for rice and soybeans is easing. Wheat forecasts have been impacted in recent weeks by unfavorable weather in several winter-wheat growing areas in the northern hemisphere. Conflicting reports regarding Ukraine's proposed wheat export ban have also complicated the market.

Ukraine has announced that it will be enforcing an export ban on wheat beginning on November 15. The move comes after poor weather impacted Ukraine’s wheat harvests and follows in the wake of the US drought, which decimated that country’s wheat crop and led to sharp increases in international prices. Ukraine’s exports are expected to reach 5.3 million tons in November, a level which the Ukrainian government says will exhaust the country’s exportable surpluses.

The latest USDA World Agricultural Supply and Demand Estimate report was released today. This month's report cites lower world supplies for wheat and maize; global rice supplies, on the other hand, are up to a record 465.1 million tons.

FAO released the latest Food Price Index today. The report cites slightly higher food prices in September, averaging 216 points. The increase was based mostly on the meat and dairy sectors, with smaller increases in grains. The Index is currently 22 points below its peak of 238 points in February 2011, and nine points below its level of 225 points in September 2011.