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Capital Economics expects corn prices to hold most recent gains through 2021 as global demand growth and constrained supply leave the market in deficit. It forecasts prices falling to 550 and 450 US cents per bushel by end-2021 and end-2022, from about 600 cents currently.
The decline is attributed to slowing Chinese demand and a supply rebound after La Niña ends.
The forecast of lower corn prices by late 2021 and 2022 suggests feed buyers may find better prices ahead, though near-term costs stay high. Ongoing deficits mean any decline will likely be gradual.
octaafrica.netApr 16, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
