World: global grain prices fell 4.5% in October while sugar rose 6.6% — FAO index

The Food and Agriculture Organization of the United Nations (FAO) has published its world food price index for October 2026. It came to 133.9 points: 1.2% below September but 5.9% above a year ago. Grain fell the most: the cereal index dropped 4.5% to 116.8 points, 12.6% below its October 2025 level.

Key figures

• Overall index: 133.9
• Month: −1.2%
• Year: +5.9%
• Cereals: −4.5%
• Vegetable oils: +0.3%
• Sugar: +6.6%

What changed

Wheat got cheaper after four months of gains: demand on the world market is restrained, and crop prospects are improving, especially in Argentina. Corn declined after a three-year high in September, pressured by the US harvest and expectations of large stocks in South America. Barley was also affected by good crop forecasts in Australia. Rice, by contrast, rose 1.6% because of harvest delays in a number of exporting countries, weather and higher costs.

In numbers

FAO indices for October by commodity group:

• Cereals: 116.8 points, −4.5% for the month.
• Vegetable oils: 199.2 points, +0.3%; soybean oil at its highest since late 2022.
• Meat: 125.5 points, −1.2%.
• Dairy: 117.8 points, −1.1%, 16.9% below last year.
• Sugar: 121.3 points, +6.6%, the highest since December 2024.

Oils and sugar

Soybean oil is supported by demand from biofuels and a seasonal drop in supply from South America. Sunflower oil rebounded from multi-month lows amid limited exports from the Black Sea region. Sugar has risen for the fourth month in a row: rain is hampering the cane harvest in south-central Brazil, and India's monsoon was weaker than normal.

What it means for buyers

For a grain farm, the October picture is this: world wheat and corn prices have fallen and the cereal index is noticeably below last year's, while vegetable oils are holding up better. This is worth keeping in mind when choosing crops for next season and planning purchases of seed and machinery. The index shows the general trend of the world market, not the price at your elevator.

Source: FAO — Food and Agriculture Organization of the United Nations