Last Updated :
04 December 2009 at 15:40 IST
Corn has high potential values: Goldman Sachs
MUMBAI (Commodity Online): Corn has high potential value among the agriculture commodities in 2010 because of its use in energy by US coupled with the lower stocks and higher energy prices, observed Goldman Sachs.
The investment bank forecasted that Chicago Board of Trade corn futures prices to rise to $4.75 a bushel by the end of 2010 and average prices of $5 a bushel in 2011.
In other grain markets price forecasts, the bank is more neutral. The large 2009-10 world wheat crop and “comfortable” stock levels, combined with minimal demand growth, indicate the wheat market will be well supplied in the coming year, said the bank.
Goldman increased its 12-month Chicago wheat price forecast to $6 a bushel from $5.50 a bushel, with the bullish outlook for corn providing spillover strength.
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