Rabobank, Holland, released a new report on the outlook of the agri commodities for 2012. As per the release, Rabobank sees agri commodity prices down, but not out in 2012.

“While the long-term bull run in agri commodities remains, we expect prices across the agri complex to ease from their record highs, continuing the downward trajectory since mid-2011,” says Luke Chandler, Director of Agri Commodity Markets Research.

"Prices need to stay at these higher levels through 2012 to encourage farmers to continue expanding production and keep pace with demand growth, and to allow global inventories to rebuild. Rabobank believes that supply-side risks, both political and weather-related (US drought, La Niña patterns), have increased for 2012 with considerable risks for price and volatility levels."