August 5, 2011

US corn, wheat, soy prices forecast to increase 

Investment bank Goldman Sachs on Thursday (Aug 4) said the three-, six- and 12-month price forecasts of corn, wheat and soy were increased based on expectations for a US corn yield of 154 bushels per acre.

According to Bloomberg, Goldman raised its three-month price forecast for corn to US$7.35 per bushel from US$5.90 previously. It raised its six-month corn forecast to US$7.35 from US$5.75, and raised its 12-month forecast to US$7.00 from US$5.70.

The bank said higher corn prices would lift values for wheat and soy. Goldman raised its three-month price forecast for wheat to US$7.50 from US$5.90, and its three-month forecast for soy to US$13.75 from US$13.00.