Goldman Sachs: U.S. Corn Stockpiles to Tighten Further
Price gains will outpace increases in other commodities in six months
U.S. corn stockpiles in the 2011-12 marketing year will tighten further and price gains will outpace increases in other commodities in six months, Goldman Sachs said.
Corn will rise 9 percent in six months, Goldman said in an e-mailed report dated Feb. 9. U.S. inventories are expected by the U.S. Department of Agriculture to fall to 20.3 million metric tons, the lowest level in 16 years. Global stockpiles may fall to the lowest since 2006-07, according to the USDA. Soybeans may gain 6 percent to $12.90 a bushel on reduced South American production, Goldman said.
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