Green tractor in a wheat field

Agricultural Prices

Agricultural prices increased 1.3% month on month in January, following December’s 2.7% rise.

Prices for four of the nine agricultural commodities tracked by our panelists rose in January. Heavyweights corn and soybeans traded higher due to weaker-than-expected USDA estimates for U.S. yields, production and ending stocks in 2024/25. Moreover, cocoa and coffee prices climbed on mounting supply concerns sparked by adverse weather in key producing regions. On the flipside, wheat traded lower on an upbeat supply outlook, and rice prices decreased on India’s rising export capacity. Additionally, sugar prices fell close to a four-year low on near-record production in Brazil and a supply surplus in India that allowed the country to lift its export curbs. Meanwhile, mounting trade and geopolitical uncertainty weighed on cotton prices.

This chart displays Wheat (US¢/bu) from 2023 to 2024.

Agricultural Historical Price Data

Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Corn CBOT 658 617 489 479 438 445 395 428
Soybeans CBOT 1,506 1,427 1,392 1,316 1,198 1,188 1,036 995
Wheat CBOT 729 650 627 585 578 611 551 562
Cocoa ICCO 2,600 2,954 3,470 4,011 5,750 8,657 6,803 8,285
Coffee Arabica 184 186 156 170 184 219 246 289
Cotton ICE 83.07 82.01 85.70 81.18 89.48 77.82 69.41 70.47
Sugar ISA 19.87 24.71 24.61 24.52 22.10 19.55 19.36 20.19
Wool AWEX EMI 1,348 1,244 1,155 1,160 1,174 1,147 1,109 1,137
Palm Oil 993 955 961 927 999 1,037 1,082 1,353
Rice 492 507 588 609 638 620 589 520

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Price forecasts and historical data for Agricultural.

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