Goldman Sachs Group Inc. (NYSE:GS) said over the next 12 months they see energy as the top performer in the commodity sector, while they view agriculture as the weakest.
Energy is projected to rise at a 27 percent clip, followed by precious metals at 17 percent, and industrial metals at 15 percent. Agriculture on the other hand, is expected to plummet by 10 percent during the same time.
The analysts' report said, "For the more cyclical commodities, oil and copper, while continued indications of more supportive policy in the U.S. and China, better macro data in these key countries, and improving commodity data have pushed prices higher within their respective trading ranges, we continue to expect them to break out to the upside in coming months."
In the short term they do see some agriculture products doing well, as they raised their outlook on raw sugar, cotton, corn and arabica.
Showing posts with label Raw Sugar. Show all posts
Showing posts with label Raw Sugar. Show all posts
Monday, September 20, 2010
Friday, September 17, 2010
Goldman (NYSE:GS) Raises Sugar Estimate on Crop Damage Concerns
Based on concerns over potential crop damage, Goldman Sachs Group Inc. (NYSE:GS) said the price of sugar will rise, prompting sugar prices to increase to their highest levels in three months in New York.
Goldman analysts said, “Uncertainty over the 2010-11 crop will likely become the main driver for sugar prices over the coming months,” adding, “lower-than-previously-expected production for both Brazil, the largest producer and exporter, and Australia, the third-largest exporter,” will add to the price increase.
The three-month price estimate for raw sugar from Goldman was raised to 20 cents a pound, while their six-and 12-month estimates were increased from 12 cents a pound to 16 cents a pound.
Goldman analysts said, “Uncertainty over the 2010-11 crop will likely become the main driver for sugar prices over the coming months,” adding, “lower-than-previously-expected production for both Brazil, the largest producer and exporter, and Australia, the third-largest exporter,” will add to the price increase.
The three-month price estimate for raw sugar from Goldman was raised to 20 cents a pound, while their six-and 12-month estimates were increased from 12 cents a pound to 16 cents a pound.
Monday, June 14, 2010
Sugar Futures Up on Low Inventory
Several things have fallen into place for sugar, and prices have responded by increasing for the fifth day in a row.
The fall in the value of the dollar has been one of those elements helping sugar, as it has all the commodities recently, as the U.S. dollar again has dropped against the euro and other major currencies.
Today prices for raw sugar increased to 15.99 cents a pound in New York, a $0.15 gain, or 0.9 percent.
White-sugar futures in London increased $2.50 for August delivery, to $526.50 on the Liffe exchange, or 0.5 percent.
Over the last couple of seasons, sugar inventory has fallen 27 million tons, as supply continued to exceed demand.
Last year there were some sugar price gains made from a drought in India and more rain than normal in Brazil.
The fall in the value of the dollar has been one of those elements helping sugar, as it has all the commodities recently, as the U.S. dollar again has dropped against the euro and other major currencies.
Today prices for raw sugar increased to 15.99 cents a pound in New York, a $0.15 gain, or 0.9 percent.
White-sugar futures in London increased $2.50 for August delivery, to $526.50 on the Liffe exchange, or 0.5 percent.
Over the last couple of seasons, sugar inventory has fallen 27 million tons, as supply continued to exceed demand.
Last year there were some sugar price gains made from a drought in India and more rain than normal in Brazil.
Wednesday, March 24, 2010
Raw Sugar Prices Lowest Since 2006
Raw Sugar Prices Plunge
We haven't seen raw sugar prices this low since June 2006, as the sweetener dropped to over 7 percent to finish the session at 16.57 cents a pound.
Most of the ongoing fall in raw sugar prices has come from the supply coming out of India, where it increasingly looks like a bumber crop this year.
In February raw sugar had hit its highest levels in 29 years, but now has dropped 45 percent since that time.
Anyalysts say there is panic selling now with raw sugar as there are no clues as to when it'll bottom out.
Raw Sugar Prices Plunge
We haven't seen raw sugar prices this low since June 2006, as the sweetener dropped to over 7 percent to finish the session at 16.57 cents a pound.
Most of the ongoing fall in raw sugar prices has come from the supply coming out of India, where it increasingly looks like a bumber crop this year.
In February raw sugar had hit its highest levels in 29 years, but now has dropped 45 percent since that time.
Anyalysts say there is panic selling now with raw sugar as there are no clues as to when it'll bottom out.
Raw Sugar Prices Plunge
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