Sugar rose as lower prices may attract new buyers

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

Farm commodities, excluding sugar, moved lower on Thursday, being pressured by broadly stronger US Dollar and escalated concerns that slowdown in China will cut global demand for agriculture.

Wheat edged down on signs that slowdown in global economy is likely to weight down on demand for grains.

Corn slumped on demand concerns. Limiting the downswing,  Brazil, the third largest global producer, announced that about one million tons of corn are under threat of being damaged by rains.

Sugar was the only gainer as recent drop in prices may encourage importers and investors to increases buying of the sweetener. 

Coffee was the top-loser after Colombia reported that the infestation of the leaf-rust disease plunged from 44% to 7% this month. Moreover, farmers are likely to sow a record amount of new plants in 2012 that will begin producing coffee beans by 2014.

 

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