Coffee tumbled amid rising global supplies

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Farm commodities declined during the last five trading days amid worries over ample global supplies and weak demand for US grains. Updated weather forecasts suggesting rains in Argentina and the US Great Plains also added pressure.

Wheat dropped as expectations for snow in the US Great Plains removed supply risk premium. However, wheat futures may climb on speculation that US farmers will harvest 3.5% less in 2013 even despite planting the most acres in four years.

Corn plunged as weather forecasts predict rains in Argentina that may boost drought-stricken harvest. Adding pressure, demand for US export remained weaker than expected in the week ended February 3.

Sugar dipped amid global oversupply concerns. However, the sweetener may be boosted by speculation that lower prices may attract more buyers at a time when Brazilian cane growers are likely to direct more cane to make ethanol.

Coffee was the top-loser as supply glut may be further exacerbated by lack of demand from end users. Rains in Brazil expected this week will be beneficial for coffee crops thus may further increase global production.
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