Forecasting Commodity Prices

Vesper forecasts can help you form a comprehensive market outlook and make decisions confidently. Leveraging machine learning, Vesper Forecasts analyse millions of global data points to provide insights into potential market shifts. Our model, primarily based on technical analysis, examines historical patterns, incorporating technical and economic indicators to make unbiased market predictions.

Benefits of Using Vesper’s Commodity Price Forecasts

Extensive processing power
Our model can analyse millions of data points, far exceeding human capabilities, ensuring you can access comprehensive and detailed insights.

Advanced data interpretation
Our in-house data science team provides an extremely technical level of analysis, meaning you get unique insights that are challenging to obtain elsewhere.

Transparent Predictions
We provide the average accuracy for each forecasted time period, giving you confidence in the precision and transparency of our predictions.

Real-time updates
Our forecasting model updates in real-time with each new data point, ensuring you always have the latest information for accurate decision-making.

Stay ahead in volatile markets:
Use our AI-driven forecasts to understand potential, market shifts, along with your own fundamental analysis to form a comprehensive outlook on the market. 

1. Find and select your product

Use the Products filter to find and select the product for which you would like to see the AI forecasts.

In our example below, we are looking at the European VPI prices for Butter Milk Powder (BMP):

2. Interpreting the forecast points

Vesper Forecasts provide multiple insights:

• the forecasted data point (dashed line)
• the most likely range (the shaded area)
• the forecasted direction of the market (the dashed line and the shaded area)
• its historical performance 
  • 2-year average for specific interval (right hand bar)
  • and individual price point accuracy (as you hover over the solid line)
    • Keep in mind as you hover over the solid line, the forecasted data point was predicted months before the actual data point, depending on the interval you have chosen in the right-hand bar.

You can also add multiple products at the same time to your widget. Simply select more than one product in the products filter. In this case, we are comparing Mozzarella to Gouda.

As you can see in our example below, this enables you to quickly compare forecasts between products.

3. Analyze forecast accuracy

In the right-hand sidebar you can view the average historical accuracy for this product for the last two years. You can select for which forecast you want to view the accuracy for:

• 1 month
• 3 months
• 6 months

We prioritize transparency at Vesper, and that’s why we openly display the accuracy of our forecasts. This way, you can make well-informed decisions when incorporating the forecasts into your strategies.

Procurement Teams

Procurement teams can utilise price forecasts to plan their purchasing schedules. By understanding future price trends, they can decide on the best times to buy, ensuring cost-effective procurement and budget management.

Market Analysts

Market analysts can utilize price forecasts to predict market trends and assess their potential impact on the business. By understanding future price movements, they can provide strategic recommendations on procurement strategies, and competitive positioning, helping the company stay ahead of market changes.

Sales Managers

Sales managers can leverage price forecasts to develop proactive sales strategies. By understanding anticipated price trends, they can adjust pricing models, and tailor sales tactics to maximize revenue. This foresight enables them to offer competitive prices and better deals to clients, aligning with market conditions.

Risk Managers

Risk managers can use price forecasts to identify potential risks related to price volatility and market fluctuations. By analysing future price trends, they can form a more comprehensive view enabling them to develop risk mitigation strategies.