Global drop in corn and wheat prices

Global fall in corn and wheat prices led to a decline in the FAO food price index in August, while new estimates suggest increased global cereal production.
In its latest report, the Food and Agriculture Organization of the United Nations (FAO) announces a decline in world food prices in August (ending September 5), largely driven by a sharp drop in cereals and sugar prices.
The FAO Food Price Index, which measures the monthly changes in food prices traded in international trade, was in average 169.8 in August 2019, 4.1% which was 1.1% less than July, though It is still more than the same period last year (August 2018).