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The FAO Cereal Price Index averaged 105.5 points in November, up 1.9 points (1.8%) from October but still 5.9 points (5.3%) below its level a year earlier.
Despite a generally comfortable supply outlook and reports of good harvests in Argentina and Australia, global wheat prices rose by 2.5% in November, albeit from levels last seen in the first half of 2020. Wheat markets were bolstered by potential Chinese interest in supplies from the United States of America, concerns over continuing hostilities in the Black Sea region, and expectations of reduced plantings in the Russian Federation.
International maize prices also rose in November, underpinned by firm demand for Brazilian supplies and reports of fieldwork being hampered by rains in Argentina and Brazil.
World prices of barley and sorghum increased as well, with prices of all major grains influenced by higher soybean prices.
By contrast, the FAO All Rice Price Index declined by 1.5% in November, as main-crop harvests in northern hemisphere exporting countries and subdued import demand kept Indica and fragrant rice quotations under downward pressure.
December 12, 2025/ FAO.
https://www.fao.org
