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