QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK (Continued)
+Added: The availability and prices of agricultural commodities are subject to wide fluctuations due to factors such as changes in weather conditions, crop disease, plantings, government programs and policies, competition, changes in global demand, changes in customer preferences and standards of living, and global production of similar and competitive crops.
The fair value of the Company’s commodity position is a summation of the fair values calculated for each commodity by valuing all of the commodity positions at quoted market prices for the period, where available, or utilizing a close proxy.
4 unchanged sentences
The highest, lowest, and average weekly position together with the market risk from a hypothetical 10% adverse price change is as follows:
−Removed: Three months ended Year ended
−Removed: March 31, 2022 December 31, 2021
+Added: Six months ended Year ended
+Added: June 30, 2022 December 31, 2021
Long/(Short) (In millions)
3 unchanged sentences
Average position 479 48 671 67
−Removed: The change in fair value of the average position was due to the decrease in average quantities, partially offset by the increase in prices of the underlying commodities.
+Added: The change in fair value of the average position was due to the decrease in prices of certain commodities, partially offset by the overall increase in average quantities.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.