Prospects for global agriculture in the second quarter

Subject

Prospects for global agriculture in the second quarter.

Significance

In the last quarter of 2014 and the first quarter of 2015, abundant harvests in the northern hemisphere and moderate increases in global demand tended to suppress agricultural commodity prices. In the three months to June, similar conditions are likely to persist, albeit with two main downside risks: poor weather conditions, especially in the southern hemisphere, and the continued negative impact of Russia's food embargo on major exporters.