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

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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