September 2022 Market Report

Overall input prices have declined after peaking earlier in the year, driven by the resolved supply chain issues arising from the pandemic and renewed trade flows from Ukraine. Weaker demand in some parts of the world, such as China and Europe, has also driven overall input and some product prices down. On the other hand, a stronger US dollar has incentivized exports and has led to an increased global supply of several agri-products, such as soybeans and vegetable oils. Wheat prices have remained relatively stable in the past few months but are still considerably below their peaks in mid-May. Beef prices have declined from their peaks earlier in the year. Declines in input costs and weather-induced increases in production have also pressured prices down. Soybean and sunflower oil prices fell in September due to an expected lower demand out of China. Malaysian palm oil futures have also experienced MoM declines on high inventories and expectations of a slower demand toward the end of the year.