Average agricultural prices rose 0.9% in September following August’s 4.6% decline.
In September, prices rose for six of the ten commodities tracked by the FocusEconomics panel. Sugar saw the sharpest gains due to fears over supply in India and Thailand. Rice prices were also up notably amid dry weather in Thailand and India’s recent decision to ban some rice exports. Corn, cocoa, cotton and palm oil saw milder price growth. In contrast, prices fell for soybeans, wheat, coffee and wool. Strong supply in the U.S. and Brazil likely weighed on the soybean market, while wheat prices were dampened by Ukraine’s seeming success in finding new channels for grains exports following the collapse of the Black Sea Grain Initiative in July.
Agricultural Historical Price Data
Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | |
---|---|---|---|---|---|---|---|---|
Corn CBOT | - | - | - | - | 671 | 776 | 638 | 670 |
Soybeans CBOT | - | - | - | - | 1,559 | 1,678 | 1,475 | 1,434 |
Wheat CBOT | - | - | - | - | 903 | 1,075 | 819 | 813 |
Cocoa ICCO | - | - | - | - | 2,493 | 2,381 | 2,244 | 2,368 |
Coffee Arabica | - | - | - | - | 234 | 225 | 219 | 176 |
Cotton ICE | - | - | - | - | 123.01 | 139.36 | 104.66 | 83.00 |
Sugar ISA | - | - | - | - | 18.41 | 19.35 | 17.93 | 18.34 |
Wool AWEX EMI | - | - | - | - | 1,402 | 1,411 | 1,349 | 1,275 |
Palm Oil | - | - | - | - | 1,569 | 1,659 | 1,118 | 1,045 |
Rice | - | - | - | - | 424 | 446 | 427 | 444 |