BMO put out the latest on its commodities update. Sounds quite positive EXCEPT for the PM prices they list.....someone must be smoking something as we are blowing way past those.

BMO Research has updated its commodity price forecast for 2010, 2011 and beyond. BMO expects commodities to rally above current levels and to perform quite well by historical standards due to continued strong growth in China and ongoing recovery in the western world over the next 18 months. Copper, PGMs, silver, gold and metallurgical coal are BMO''s top commodity picks, driven by a rebound in demand and supply rigidities. Precious metals are expected to outperform the base metals and bulk materials complex. The long-term gold price was lifted 18% to US$1,000/oz and silver +7% to US$15/oz. The price outlook for gold and most of the precious metals has been upgraded materially since the last review due to heightened long-term sovereign debt and inflation concerns, recovering fabrication demand and strong investor interest. In contrast, the industrial commodity price outlook has been downgraded somewhat due to a modest scaling down of US and Chinese economic growth expectations. The most noteworthy revision is a -15% zinc price downgrade for 2010 and -18% for 2011.