Goldman warns on soy as it cuts crop price outlook

Goldman Sachs cut forecasts for grain and cotton futures, citing ample supplies, but was particularly downbeat over prospects for soybean prices, foreseeing a further slump to levels not seen since 2008. The investment bank cut its expectations for corn futures prices on the three- and six-month horizons to $3.00 a bushel, and for wheat futures to $4.50 a bushel on the same timescale, more gloomy outlooks than investors are factoring in.

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