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Chapter 2 – Grain and oilseed market dynamics

Global prices for grains and oilseeds declined as production remained ample and competition increased. Lower import demand from China also added to price pressures. For 2025, regional production shortfalls and stronger demand for maize, particularly in Southern Africa, are expected to keep local prices above export parity levels, while a rebound in soybean production and global trade tensions may introduce price volatility.

Total annual corn and wheat imports for China, December 2024

Figure 2

Source: USDA, 2025

Episode 2

Grain and oilseed
market dynamics

With Nkhensani Mashimbyi,
Zama Sangweni, Marlene Louw
and Ivor Price

Grain and oilseed
market dynamics

With Nkhensani Mashimbyi, Zama Sangweni, Marlene Louw and Ivor Price

Hit by trying weather, war and China’s changing appetite, global grain and oilseed markets have been on shaky ground. Prices took a nosedive in 2023 and 2024 as oversupply and fierce competition flooded the market. We dig into the trends shaping global agriculture.

Plan for the future with insights by agri-industry experts.
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