September 11, 2023

Global prices of wheat, corn dropped in August

The FAO Cereal Price Index averaged 125.0 points in August, down 0.9 points (0.7%) from July and standing at 20.6 points (14.1%) below its value a year ago.

International wheat prices fell by 3.8%, mostly reflecting higher seasonal availability from ongoing harvests in several leading exporters in the northern hemisphere.

International coarse grain prices also declined in August by 3.4%.

Corn prices fell for the seventh consecutive month, hitting their lowest value since September 2020, underpinned by ample global supplies from a record harvest in Brazil and the start of the harvest in the United States.

- FAO