Goldman Sachs Group Inc. cut its three-month corn forecast to $6.30 a bushel from $6.85 following the U.S. Department of Agriculture’s projection for higher-than- forecast inventories.

The soybean forecast for three, six and 12 months was $12.15 a bushel, Goldman said today in a report. The previous estimates were $12.20 in three months, $12.50 in six months and $12 in a year.

The three-month wheat forecast was reduced to $6.20 from $6.70.