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Agricultural prices are now falling from their peak of recent years. This follows two very good harvests for all continents, major cereals (wheat and maize) and oilseeds. There was a similar succession of good harvests in 2009, against the backdrop of an economic crisis that then seemed more worrying. The outlook for demand was a little stronger than now, however, as China is slowing, and agro-fuels have fallen out of favour.
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