Rabobank has significantly lowered forecasts for world price for soybean and corn in 2014

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In December, experts of Rabobank, an authoritative investment bank, lowered its forecasts for world’s prices for grains and oilseeds.

In December, experts of Rabobank, an authoritative investment bank, lowered its forecasts for world’s prices for grains and oilseeds.
In particular, per expert’s forecasts, by the fourth quarter of the coming year prices of the nearest futures contract for corn in Chicago will not be $170/t, as assumed earlier, but rather only $160/t; the futures contracts for soybeans will not be $483/t, as predicted before, but only $393/t.
Such decline is due to growing estimates of agricultural crops production in the world. The forecasted price of the futures contract for wheat is, according to Rabobank’s predictions, $235/t, which is approximately even to the current price level for grains on СВОТ, according to the exports, given market is currently stabile, and in the next year will stay relatively stable.