CROPS NEWS
Fri Oct 26, 2012 07:25 AM CDT

SINGAPORE (Dow Jones) -- The International Grains Council Friday raised its forecast for global soybean output in the 2012-13 aggregate year by 8 million metric tons to 264 million tons on the back of revised expectations for crops in South America.

If the revised forecast is realized, global production will rise by 11% compared with actual output in 2011-12, despite a disappointing U.S. crop, the IGC said in a monthly report.

Soybean futures on the Chicago Board of Trade hit a record in September due to successive droughts in South America and U.S., the world's largest suppliers. A rebound in ...

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