Agricultural Commodities Price Outlook Economic Forecast

Agricultural Commodities Price Outlook

 Agricultural price growth decelerates in December

Agricultural prices continued to increase in December, albeit at a more moderate pace of 0.3% month-on-month, down from November’s 5.1% jump. This marked the fourth rise in the past seven months.

December’s slowdown was mainly the result of lower palm oil and sugar prices, which were likely dragged down by flagging energy prices for their use in the production of biofuels. Moreover, cotton and wheat prices dropped notably due to a more favorable supply outlook. Nevertheless, corn, soybean and coffee prices increased robustly in December, supported by healthier demand conditions and elevated input costs—particularly for fertilizer—in recent months.

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Agricultural Historical Price Data

2015  2016  2017  2018  2019  
Corn378.13  359.41  361.24  369.89  384.98  
Soybeans943.11  987.01  977.8  934.24  892.18  
Wheat508.73  438.86  439.48  496.56  494.16  
Cocoa3136.98  2893.27  2029.25  2293.11  2341.39  
Coffee132.27  137.88  131.9  113.73  98.37  
Cotton63.34  65.58  73.33  82.04  67.41  
Sugar13.43  18.08  15.99  12.56  12.7  
Wool1198.43  1293.69  1538.78  1905.59  1747.02  
Palm oil614.96  705.39  719.93  596.12  565.69  
Rice386.9  395.3  397.14  420.23  417.19  

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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