According to the Bank experts, in 2013 global corn price index had crashed by more than a third, by 8.6% since the beginning of 2015, and is expected to decrease by another 7.5% over the next year. This quite clearly contradicts with predictions made by the Bank experts about expected global price growth for fuel and energy resources by 9.5%, while in the coming months quotations for crude oil will gravitate to decrease.

The Bank experts believe that annual average prices forecast for corn is only $147.63/t. This is much lower than current $165.74/t- last week’s trading price of American futures contracts, with delivery date in March 2016.

Taking into account improvement of agro-meteorological conditions in South America, global overall production of corn in the current season should be more than enough to fully satisfy global demand for grain, which means that grain reserves will grow, while corn prices, in the meanwhile, will demonstrate a downtrend.

For similar reasons, the experts also established annual forecast for soybeans quotes to be $321.51, which is almost $37/t less than the current quotes for oilseed futures with delivery in spring 2016.

Bank experts are slightly more optimistic about wheat futures market, price of which is expected to range about $195/t for the next three month. Though, this level is highly unlikely to be exceeded before the end of this year.