At the moment we are in voyeur mode, just watching.
From Agrimoney:
Crops represent the worst bet in commodities over the next year, Goldman Sachs said, cutting forecasts for coffee and sugar values, and sticking with forecasts for corn and soybean prices well below the futures curve.
However, livestock futures face a more stable outlook, after their heavy falls, particularly for lean hogs, so far this year.The bank forecast the prices of grains and soft commodities, as measured by the agriculture segment of the S&P GSCI Enhanced commodity index, would fall by 7.5% over the next year, having already fallen by more than one-quarter over 2013 and 2014, and by 8.6% so far in 2015.The outlook contrasted with expectations of a 9.5% rise in energy values, despite the bank taking a downbeat view of oil price prospects for the next months, and a 2.2% increased forecast for precious metals....MORE
Previously:
We're thinking the most likely market for an upside surprise is the grains, watching the weather closely.
From Saxo Bank's Trading Floor blog...
