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Global Crop Prices Log Biggest Quarterly Jump Since Ukraine Invasion As Sticky Inflation Hits Grocery Bills

Global Crop Prices Log Biggest Quarterly Jump Since Ukraine Invasion As Sticky Inflation Hits Grocery Bills The Bloomberg Agriculture Spot Index (BCOMAGSP) posted its largest quarterly gain since Russia invaded Ukraine in early 2022, as Black Sea disruptions, a crisis in the Strait of Hormuz, and mounting El Niño risks have formed what could be considered a perfect storm poised to drive food prices higher. BCOMAGSP, which tracks 10 major crops including corn, soybeans, wheat, coffee, sugar, cotton, cocoa, and others, jumped 13% in the third quarter. Among individual movers, corn...
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