FAO's index of main cereals prices fell in October

The FAO Cereal Price Index averaged 103.6 points in October, a 1.3-point (1.3%) drop from September and 10.9 points (9.5%) below the level recorded a year ago. The price indices for all major cereals declined from the previous month. The wheat price index fell 1.0%, mainly reflecting the ample global supply, good production prospects in the southern hemisphere, where harvesting is underway, and steady progress in winter wheat sowing in the northern hemisphere. The coarse grains index decreased by 1.1% in October, with declines in barley, maize, and sorghum quotations. The downward pressure on prices was partially offset by reports of reduced maize productivity in the European Union and possibly also in the United States, as well as news of trade agreements between ...