Yesterday, Goldman Sachs and Morgan Stanley released their updated research note and said boldly to stay bullish on oil and copper on demand recovery predicting a global recovery in the second half that will push up prices.
Goldman predicted Brent crude will advance to $130 a barrel in a year’s time, while Morgan Stanley said it will average $120 this year, increasing to $130 in 2012. Along with their maintained bullish view on oil, Morgan Stanley specifically recommends investors to buy corn and soybeans after prices tumbled 17 percent and 6 percent last month. Morgan Stanley view the recent weakness in agriculture prices as a buying opportunity. However, both, Goldman and Morgan Stanley did not mention crude palm oil into their buying list yet. ( http://www.bloomberg.com/news/2011-07-07/goldman-morgan-stanley-stay-bullish-on-oil-copper-as-economy-to-recover.html ) Meanwhile in Indonesia, it was reported by Bloomberg that corn imports for livestock feed by Indonesia may double this year as demand increases and domestic production declines, an industry group said. ( http://www.bloomberg.com/news/2011-07-06/u-s-commodities-day-ahead-tokyo-grain-volume-may-surge-on-rice.html ) '+'
