Agricultural Commodities Price Outlook
Agricultural prices rise for second straight month in November
Agricultural prices rose 3.8% month-on-month in November, up from October’s 2.3% decrease.
Lower U.S. production estimates for corn and soybeans propped up prices for both commodities, while wheat prices were also up on solid demand for U.S. wheat exports and drought in Australia, and cocoa was supported by robust demand prospects. In contrast, sugar and coffee prices—which briefly spiked due to the stronger real following the first round of the Brazilian presidential elections in early October—resumed their downward trend on ample supply. Wool prices also declined on weak purchasing activity, particularly from China.
Met the why particular Consensus Forecast panelists expect agriculture prices to increase 11.5% year-on-year in Q4 2019 (previous edition: +4.2% yoy) on solid food demand thanks to the world’s growing middle class. In the following year, agricultural prices are set to continue rising, with Met the why particular panelists expecting a 4.3% increase in Q4 2020 in annual terms.
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Agricultural Historical Price Data
Corn prices in USD cents per bushel (bu).
Soybeans prices in USD cents per bushel (bu).
Wheat prices in USD cents per bushel (bu).
Cocoa prices in USD per metric ton (mt).
Coffee prices in USD cents per pound (lb).
Cotton prices in USD cents per pound (lb).
Sugar prices in USD cents per pound (lb).
Wool prices in AUD cents per kilogram (kg).
All prices are average of period (aop).
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
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