GLOBAL - The Agri Commodity Market Research team at Rabobank is bearish on most agri-commodity prices, predicting further falls in grain and oilseed prices to the end of 2014.
In the latest Poultry Quarterly Review for the third quarter of 2013, Rabobank's Agri Commodity Market Research team reports that a further downward slide is expected from current levels as the new crop supply becomes more certain.
Source: Bloomberg, Rabobank, July 2013
For wheat, prices are forecast to remain bullish as harvests are forecast to be higher than last year in the Black Sea region, the EU and Canada.
With favourable weather in the US, the maize (corn) market globally is described as 'bearish' as fears of a crop failure there diminish.
Rabobank is forecasting bullish conditions for soybeans although it warns of possible volatility ahead in case of adverse weather conditions.
The Review adds that improving market conditions in the Chinese animal protein market are pushing up demand in China, which is supporting global markets.
TheCattleSite News Desk