Sugar plunged as weather in Brazil and India improved

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Agricultural commodities tumbled on Tuesday on more favorable weather conditions in the US, Brazil and India. However, hopes that the ECB and Fed will loosen their monetary policies restricted the downswing.

Wheat slid 0.4% despite supply cuts from Russia. Russia's harvest is expected to be less than in 2010 when the country faced the worst drought in more than 50 years and banned exports.

Corn prolonged its slump on speculation that rains in the US this week will boost crops after the most severe drought since 1956.

Sugar was the top-loser as beneficial weather in Brazil and India is likely to increase global output.

Coffee dropped as weather in the world's top producer, Brazil, improved after crop-hurting rainfalls.

 

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