A new Rabobank report suggests commodity prices will drop some before 2024 but move higher through 2030.
Economist Stephen Nicholson tells Brownfield he sees some changes and some trends in corn, soybeans, and wheat markets that are overall supportive of prices in the long term. “You do see them trending down over that ten years, and that’s part of the function of the model itself. It’s also a function that we continue to see continued growth in yields, but if you had looked at those price graphs every six months in the last two years, you’ve seen those price ranges continue to move higher.”
Nicholson says that trend is partly because it’s more difficult to build stocks because of growth in domestic demand.
