Supply shortages already priced into corn and soybean
Global soybean production estimates published by the United States Department for Agriculture (USDA) were revised down today, but by no more than already anticipated by the market. However, expectations of a significant tightening for US corn were not supported by the latest report. As a result, we maintain our forecast that the prices of these two commodities will fall on average of 15% before the end of the year....
Chief Global Economist
Senior Commodities Economist