By Jeff Wilson
June 1 (Bloomberg) -- Corn prices may rise for a third straight week, and soybeans may gain for a sixth week as a slumping dollar increases demand for commodities as an alternative investment.
Twenty-five of 33 traders and analysts surveyed from Tokyo to Chicago on May 29 said corn will climb, and 25 of 35 forecast a gain in soybeans.
Corn futures for July delivery rose 1.4 percent last week to $4.3625 a bushel on the Chicago Board of Trade, and soybeans for July delivery rallied 1.5 percent to $11.84 a bushel.
The increase in corn and soybeans last week was expected by a majority of analysts surveyed on May 22. Since 2004, respondents were correct 53 percent of the time for corn and 55 percent for soybeans.
Bullish on corn: 25 Bullish on soybeans: 25 Bearish on corn: 8 Bearish on soybeans: 10
To contact the reporter on this story: Jeff Wilson in Chicago at jwilson29@bloomberg.net.
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