Four indicators that explain world grain and oilseed market developments

Patrick Westhoff and Wyatt Thompson

Agribusiness, 2017, vol. 33, issue 2, 274-278

Abstract: Growth in crop yields, population, Chinese demand and biofuel production can explain important developments in world grain and oilseed markets over the last 35 years. The same indicators provide clues about what to expect between now and 2050. Proportional rates of growth in both crop yields and population are slowing. Chinese demand and biofuel production account for the entire net increase in world per‐capita grain and oilseed consumption since 1980. If biofuel expansion and Chinese consumption growth slow, a key question is whether a new engine of demand growth will emerge. Decisions made by farmers, agribusinesses, policy makers and consumers will all affect future food supplies and prices. [EconLit citations: Q11, Q13, Q18]

Date: 2017
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