Crop prospects and food situation
The FAO Food Price Index was down for a third consecutive month in June, a decline mostly influenced by lower wheat, maize and palm oil prices that reflected ample supplies and improved global production prospects for these commodities. According to the FAO Crop Prospects and Food Situation report, the outlook for global production of cereals - a staple food in many countries - improved further with upward revisions to coarse grains and wheat supply forecasts for 2014/15.
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