This week’s Input Cost Index climbed again, and grain is doing most of the work.
For the first time since we launched this index, the Commodity Basket component crossed into Elevated territory. Wheat drove the move: CBOT wheat jumped 11% week over week to $7.57 a bushel, with no single catalyst standing out in this week’s USDA reports. Corn and soybeans climbed too, but in smaller, more typical increments, corn to $5.15 and soybeans to $12.75. That suggests wheat’s spike is the outlier to watch, rather than a new baseline for grain overall.
Boxed beef broke its own streak. After three straight weekly increases, USDA’s Choice cutout eased $4.88 to $383.39/cwt, the first pullback since early August. Ocean freight barely moved. The Freightos Baltic Index ticked up 1% to $3,590/FEU.
None of these moves alone would be alarming. Together, with grain now in Elevated for the first time, they’re worth a closer look, especially for anyone locking in Q4 procurement contracts in the next few weeks.
See the full breakdown on the FIE Input Cost Index page.
