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[War and extreme weather push up agricultural product prices to the largest monthly increase since 2012] August 31: As war and extreme weather disrupt supply, agricultural product prices are expected to record the largest monthly increase in more than a decade, and market concerns about food inflation have also increased. As of last Friday, the Bloomberg Agricultural Spot Index, which tracks 10 major agricultural products, had risen more than 13% in August and was expected to hit the largest monthly gain since July 2012. Wheat is one of the main commodities driving the rally. Wheat prices have recently risen to their highest level in three years as attacks on Black Sea ports have reduced export shipments from the key producing region. Sugar and cocoa prices also rose by about 20%, with the strengthening of El Niño further exacerbating market concerns about weather. While it will take some time for higher-priced produce to trickle down to supermarket shelves, the gains are compounded by rising energy and transportation costs driven by the war in Iran. This adds to concerns about the cost of everyday food, with everything from bread to meat and dairy products likely to be affected. In wheat, grain exports from Ukraine and Russia have slowed as the two sides attack each other's ships and ports.

#Futures Market Intelligence #Overseas commodities #weather changes #agricultural planting #Food and Beverage #snack food #Shipping futures #Agricultural products futures08-31 14:42