Following the release of the latest USDA forecasts, analysts at Barclays have raised their forecasts on several soft commodities.
In a report, Barclays said corn prices will average $6.80 a bushel, up from a previous forecast of $5.74, with prices reaching $7.34 in the third quarter,
Soybean prices will average $14.80 a bushel, up from a previous forecast of $14.25, with prices reaching $16.20 in the third quarter.
Wheat prices will be $7.40 a bushel from $6.35 for the year, with third-quarter prices estimated at $8.29, according to analysts at the bank.