October 14, 2011
US soy prices to outperform corn
US soy prices are expected to surpass corn prices whereas wheat prices will underperform in the near-term because of bigger foreign supplies, according to Goldman Sachs.
According to Reuters, Goldman reiterated its soy three-month price forecast of US$12.60 a bushel and six-month forecast of US$13.00 a bushel, while corn prices are expected at US$6.15 a bushel in the next six-months.
Goldman's three-month forecast for wheat stands at US$6.40 a bushel, while the six-month estimate holds at US$6.50 a bushel.
"While we expect high foreign supplies will help limit growth in US exports in 2011 and 2012, a potential return of La NiÃ±a this winter would present upside risk to our forecasts," the analysts said.