A recent Rabobank report projects a rise in global demand should bring a three-year decline in commodity prices to an end. Nebraska Farm Bureau Senior Economist Jay Rempe says that outlook should give hope to farmers and ranchers who have been struggling through the downturn in the farm economy.

He agrees with Rabobank officials that global demand for U.S. commodities is improving, especially for beef and pork as the income and diets of consumers improves around the world.

Rempe is hoping the incoming Trump administration will work with ag commodity groups to expand export markets.

Rabobank’s report indicates that record high stocks of staple food commodities like wheat, corn and soybeans are likely to keep world food prices low in 2017 even as inflation starts to rise in developed countries.