Agri Commodity Markets Research Outlook 2024

The last three years have been extremely volatile and challenging for farmers, traders, and food processors. Successive waves of drought, disease, and war pushed agricultural commodity prices to record levels and left even the most experienced buyers in uncharted territory. We had already predicted the challenges for consumers, as we saw consumer demand erode in response to affordability. The US Federal Reserve tightened lending conditions, raising rates and strengthening the dollar, which, in conjunction with a weaker Russian ruble and Chinese yuan, further depressed prices of commodities such as wheat and soybeans.