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Goldman sees $4.50 corn coming

08/06/2013 @ 1:11pm

Corn prices could continue to drop with the temperature, says Goldman Sachs as it cuts its 3-to-12-month price forecast by 50c to $4.25/bushel and raises its average US yield outlook to 161 bushels/acre from 156. That as the investment bank notes while the risk of a frost damaging soybeans is "non-trivial," weather risk is already priced into soybeans. As such, Goldman sees greater downside price risk in beans than corn as it cuts its soybean-price forecast 50c to $10.50. CBOT December corn is down 1 3/4c at $4.58 3/4 and November soybeans drop 16 1/4c to $11.67. (ian.berry@dowjones.com; @ianberry)

(END) Dow Jones Newswires

August 06, 2013 13:58 ET (17:58 GMT)

DJ MARKET TALK: Goldman Sees Higher Yield, Lower Price for Corn->copyright

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