FAO Grain Price Index averaged 153 points in October

The FAO Grain Price Index averaged 152.8 points in October, up a notch from September and 10.5 points (7.4 percent) higher than the same month last year.

Wheat quotations were generally lower, pressured by large exportable supplies from the Back Region and increased competition among exporters.

"Corn prices increased slightly in the US, although those from South America were weighed down by large supplies," the message says.

Earlier it was reported that global wheat production in MY 2017/18 should decrease to 748 million tons.