Beijing De Runlin December 24 news: According to the Dutch cooperative bank analysts, agricultural product prices may continue to rise in 2011, because the fundamentals of supply and demand imbalances, the La Niña phenomenon led to sharp fluctuations in prices.
According to Rabobank analysts, corn, soybeans and coffee will be the strongest varieties among the ten agricultural products. Although it appears that there is sufficient supply of corn, soybeans and wheat, these cereal oilseed production must reach a record level next year to prevent further declines in stocks.
In 2011, the weather in all major agricultural production areas must be satisfactory to help replenish stocks and prevent food prices from soaring to the 2007/08 high.
The average corn price in the first quarter of 2011 was likely to be around $6 per bushel and in the second quarter at $5.80, up from $5.50 so far this quarter. Soybean prices in the first quarter of next year may be at $13 per bushel and in the second quarter may be at $12.75, both higher than the $12.15 so far this quarter.
The Rabobank maintained the outlook for 2011 agricultural product prices, and the fundamental imbalances in many agricultural products will set the tone for price increases in the coming year.
So far this year, corn futures prices have risen by 46% because of poor corn production in the United States, strong exports and Russia's reduced cereal production. According to the US Department of Agriculture, ending stocks of US corn in 2011 may fall to the lowest level in 15 years.
This year, the world has suffered the strongest La Niña phenomenon in the past 50 years, which has caused the market to worry about crops in some major producing areas. The La Niña phenomenon usually causes dry weather in agricultural production areas in Argentina and Brazil.
Analysts said that global agricultural product inventories are at or near historical lows. Coupled with strong growth in emerging market demand, especially in China, agricultural product prices may soar due to any weather issues or policy-induced supply shortages.
Agricultural production must be increased to replenish stocks, and supply restrictions may also arise. In the United States, corn, cotton, soybeans and wheat are all facing intense competition for arable land next spring, which may lead to a tight supply of major means of production such as fertilizers and seeds.
According to Rabobank analysts, corn, soybeans and coffee will be the strongest varieties among the ten agricultural products. Although it appears that there is sufficient supply of corn, soybeans and wheat, these cereal oilseed production must reach a record level next year to prevent further declines in stocks.
In 2011, the weather in all major agricultural production areas must be satisfactory to help replenish stocks and prevent food prices from soaring to the 2007/08 high.
The average corn price in the first quarter of 2011 was likely to be around $6 per bushel and in the second quarter at $5.80, up from $5.50 so far this quarter. Soybean prices in the first quarter of next year may be at $13 per bushel and in the second quarter may be at $12.75, both higher than the $12.15 so far this quarter.
The Rabobank maintained the outlook for 2011 agricultural product prices, and the fundamental imbalances in many agricultural products will set the tone for price increases in the coming year.
So far this year, corn futures prices have risen by 46% because of poor corn production in the United States, strong exports and Russia's reduced cereal production. According to the US Department of Agriculture, ending stocks of US corn in 2011 may fall to the lowest level in 15 years.
This year, the world has suffered the strongest La Niña phenomenon in the past 50 years, which has caused the market to worry about crops in some major producing areas. The La Niña phenomenon usually causes dry weather in agricultural production areas in Argentina and Brazil.
Analysts said that global agricultural product inventories are at or near historical lows. Coupled with strong growth in emerging market demand, especially in China, agricultural product prices may soar due to any weather issues or policy-induced supply shortages.
Agricultural production must be increased to replenish stocks, and supply restrictions may also arise. In the United States, corn, cotton, soybeans and wheat are all facing intense competition for arable land next spring, which may lead to a tight supply of major means of production such as fertilizers and seeds.
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