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Grain prices set to fall (if La Niña doesn’t get in the way)

While media attention has been on the soaring prices of coffee and cocoa, the prices of many grains have slid lower since the start of the year. We think that prices will fall further by the end of 2025 as the market looks set to be amply supplied. However, the likely return of La Niña poses an upside risk to that view.

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