Informa Economics raises its forecast for US soybean crop

Corn and soybean prices on the CBOT fell slightly yesterday. Soybeans closed at 943 US cents per bushel and corn at 370 US cents per bushel. 

"One of the reasons for the moderate price falls is that market participants are biding their time while they wait to see how the weather develops over the next few days in the US growing regions", says Commerzbank. 

Analytical firm Informa Economics has upwardly revised its US soybean crop forecast from 3.77 billion bushels to 3.789 billion bushels. The US Department of Agriculture (USDA) envisages a US soybean crop of 3.885 billion bushels. 

Informa anticipates a US corn crop of 13.41 billion bushels, which is somewhat lower than the USDA's forecast of 13.53 billion bushels.