Corn Extends Best Run in Year With Goldman Bullish: Commodities
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Corn traders are the most bullish in seven weeks as forecasts for the smallest stockpiles relative to demand since 1974 prompted the longest rally in a year and Goldman Sachs Group Inc. to predict near-record prices.
Eighteen analysts surveyed by Bloomberg expect futures to gain next week and six were bearish. A further five were neutral, making the proportion of bulls the highest since Nov. 30. Global consumption will exceed output for the second time in three years after drought from Europe to the U.S. parched crops, the U.S. Department of Agriculture says.