From Nasdaq:

The outlook for agricultural commodities in 2024 presents a mixed picture. Wheat has a tight global stock drawdown, with positive market implications. Corn faces rising stocks, but limited downside risk from current prices. Soybeans have a global stock build of 14 million metric tons, with potential for upside and downside movements. Sugar’s year ahead promises to be influenced by policy changes, while cocoa’s strong rally may be plateauing. Managed money positions have been reduced, but an improved global economic outlook may see more capital coming into the commodity space, influencing market movements.

Overall, there is cautious optimism for the agricultural commodities market in 2024, with potential highs and lows driven by a range of factors. The projected levels of stock drawdown and build for different commodities, as well as potential investment inflows, will significantly influence market movements throughout the year. While supply and demand projections set the stage, policy changes and economic conditions could create both opportunities and challenges across the commodities landscape.



Read more: Agricultural Commodities Outlook 2024 | Nasdaq