Corn advanced on stronger demand hopes amid QE3

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

Rural commodities rose for the second consecutive day on Friday as QE3 in the US fuelled demand hopes for the commodity group. Broadly weaker US Dollar also created strong support for the farm commodities.

Wheat reached one-month high after ANZ Bank cut its forecast for Australian wheat crops to 20 million tons, below the USDA estimate by 6 million tons.

Corn posted the largest gain in more than two weeks on brighter demand prospects amid long-awaited quantitative easing in the US.

Sugar prolonged its rally on speculation that renewed rains in Brazil may again disrupt harvesting. Moreover, tightening supplies from the world's second largest producer, India, also boosted the sweetener's price.

Coffee moved higher as stimulus measures in the US are likely to strengthen demand amid lower supply levels from Latin America.

 

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