Climate and environmental data contribute to the prediction of grain commodity prices using deep learning

Zilin WANG, Niamh French, Thomas James, Calogero Schillaci, Faith Chan, Meili Feng, Aldo Lipani

Research output: Journal PublicationArticlepeer-review

27 Downloads (Pure)


Grain commodities are important to people's daily lives and their fluctuations can cause instability for households. Accurate prediction of grain prices can improve food and social security.

Methods & Materials
This study proposes a hybrid Long Short-Term Memory (LSTM)-Convolutional Neural Network (CNN) model to forecast weekly oat, corn, soybean and wheat prices in the United States market. The LSTM-CNN is a multivariate model that uses weather data, macroeconomic data, commodities grain prices and snow factors, including Snow Water Equivalent (SWE), snowfall and snow depth, to make multistep ahead forecasts.

Of all the features, the snow factor is used for the first time for commodity price forecasting. We used the LSTM-CNN model to evaluate the 5, 10, 15 and 20 weeks ahead forecasting and this hybrid model had the lowest Mean Squared Error (MSE) at 5, 10 and 15 weeks ahead of prediction. In addition, Shapley values were calculated to analyse the feature contribution of the LSTM-CNN model when forecasting the testing set. Based on the feature contribution, SWE ranked third, fifth and seventh in feature importance in the 5-week ahead forecast for corn, oats and wheat, respectively, and 7–8 places higher than total precipitation, indicating the potential use of SWE in grain price forecasting.

The hybrid multivariate LSTM-CNN model outperformed other models and the newly involved climate data, SWE, showed the research potential of using snow as an input variable to predict grain prices over a multistep ahead time horizon.
Original languageEnglish
Pages (from-to)1-15
JournalJournal of sustainable agriculture and environment
Publication statusPublished - 6 Jun 2023


  • commodity prices
  • multistep ahead prediction
  • snow water equivalent


Dive into the research topics of 'Climate and environmental data contribute to the prediction of grain commodity prices using deep learning'. Together they form a unique fingerprint.

Cite this