Agricultural Commodities Price Outlook Economic Forecast

Agricultural Commodities Price Outlook

Higher corn prices drive outlook for agricultural commodities

FocusEconomics analysts raised their agricultural forecasts this month and now see the agricultural commodity index averaging 122.9 in Q4 2017, which is above last month’s 122.0 projection and 5.7% higher than the same quarter last year. In 2018, the index is seen increasing slightly and averaging 126.3 in Q4.

Behind this month’s upward revision for Q4 2017 are higher prices for five commodities, including corn, soybeans and wheat. A weak corn harvest in the U.S. and strong demand from China led to a notable upward revision of the price of the crop. Cocoa, coffee and sugar all had their prices downgraded, while the oats price forecast was unchanged. 

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Agricultural Historical Price Data

2012  2013  2014  2015  2016  
Corn698.6  598.06  397.77  361.72  343.92  
Oats367.32  387.48  402.11  284.65  255.52  
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  
Wool1088.33  1071.7  1047.33  1198.43  1293.69  

Note:
Corn prices in USD cents per bushel (bu).
Oats 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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Price forecasts and historical data for Energy, Metals and Agricultural Commodities

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