July 12 (Reuters) - Barclays on Thursday raised its corn, wheat and soybean price forecasts for the third quarter, citing the ongoing U.S. Midwest drought.
The bank raised its third-quarter corn price forecast to $6.80 from $5.74 per bushel, wheat forecasts to $7.40 from $6.35 a bushel, and soybean forecasts to $14.80 from $14.25 a bushel.
"Weather remains the key risk as continued drought conditions could impact soybean yields further while corn yields could fall to the 140 to low 140’s bushels per acre level," Barclays said in a note.
