A periodical update from RaboResearch, this latest North America Agribusiness Review provides a market outlook for cattle, soybeans, wheat, cotton, orange juice and other key commodities. It also gives an overview of what developments to watch in the upcoming months. A couple highlights include:
- Phosphates prices are now at the highest levels in North America since 2012. Urea is likely to see further price movement as higher corn prices improve appetite for demand.
- Feed exports to China remain strong, increasing domestic feed prices.
- Food-at-home’s share of total food expenditures rose to 58.1% in 2020 – more than 10 percentage points above pre-pandemic levels and the highest since 1985. RaboResearch expects this food retail momentum to continue with above-average growth even in 2021.
This report and past North America Agribusiness Reviews can be found here.