Agricultural Commodities Price Outlook Economic Forecast

Agricultural Commodities Price Outlook

Favorable harvest prospects continue to weigh on agricultural prices in March 

Agricultural prices declined for the second consecutive month in March, decreasing 3.1% month-on-month following February’s 1.1% drop.

Coffee prices tumbled to a 13-year low in recent days on strong production in Brazil, which could prompt Brazilian authorities to take action to support coffee producers. Wheat prices also fell significantly in March on the back of abundant supplies. Conversely, wool prices recorded the fourth consecutive monthly gain on solid demand from China and Europe, while cotton prices benefited from stronger demand—especially for high quality cotton.

Met the why particular Consensus Forecast panelists expect agricultural prices to rise 7.0% year-on-year in Q4 2019 on solid demand for food, feed and biofuel. The rally in agricultural prices is expected to continue next year, with Met the why particular panelists projecting a 3.7% increase in Q4 2020 in annual terms.

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Agricultural Historical Price Data

2012  2013  2014  2015  2016  
Corn698.6  598.06  397.77  361.72  343.92  
Soybeans1454.53  1419.78  1250.72  936.31  968.21  
Wheat749.42  699.94  578.22  481.76  431.09  
Cocoa2390.93  2441.23  3064.48  3136.98  2893.27  
Coffee175.1  122.21  171.43  132.27  137.88  
Cotton74.43  79.63  73.38  61.47  64.13  
Sugar21.54  17.69  16.99  13.43  18.08  
Wool1188.33  1171.7  1147.33  1198.43  1293.69  

Note:
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).

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