Barclays Raises Forecast on Soft Commodities (CORN) (WEAT) (SOYB) (DBA)

July 12, 2012 9:57 AM EDT Send to a Friend
Following the release of the USDA's forecast yesterday, analysts at Barclays raised their forecast on several soft commodities, including corn, soy, and wheat.

Corn will average $6.80 a bushel, up from a previous forecast of $5.74, with prices reaching $7.34 in the third quarter, Barclays said in a report today.

Soybeans will average $14.80 a bushel, up from a previous forecast of $14.25, with prices reaching $16.20 in the third quarter.

The wheat forecast was raised to $7.40 a bushel from $6.35 for the year, with third-quarter prices estimated at $8.29, according to analysts at the bank.

Teucrium Corn Fund (NYSE: CORN) is trading higher today by 1.33 percent

Teucrium Wheat Fund ETV (NYSE: WEAT) is higher by 2.14 percent.

Teucrium Soybean Fund ETV (NYSE: SOYB) is higher by 0.75 percent.

PowerShares DB Agriculture Fund (NYSE: DBA) is trading flat.


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