Analysts project that global agricultural commodity prices will likely rise in 2026 as new markets and expanded uses drive demand. While research agency BMI expects grain prices to increase on an annual average basis, any significant upside may be moderated by strong physical availability from the 2025-26 seasonal output. Conversely, record global production—estimated at 828 million tonnes for wheat alone—could exert downward pressure on international grain prices.
Global oilseed prices are forecast to rise in 2025-26 due to tight supply and increased global consumption, which is outweighing strong production in South America and Europe. Production is expected to rise by 2% to reach 688 million tonnes. Uncertainty persists in the oilseed market as the U.S. and Canada work to resolve trade tariffs imposed by China on soybeans and canola.
Agricultural markets are generally entering a period of relative stability following the extreme price volatility seen in the early 2020s. Morgan Stanley analysts remain “cautiously optimistic,” predicting that even with price stability, the total volume of agricultural trade will expand. Commodities such as coffee, which saw significant distortions recently, are expected to begin normalizing in 2026.