Corn gains as US stockpiles may have fallen to 15-year low

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Rural commodities were mixed on Monday amid unfavorable weather conditions in Brazil and expectations of lower US gains inventories. Meanwhile, cold and wet weather in the top growing areas in the US may slow early grain planting.

Wheat retreated after the data showed that crop rating in Oklahoma rose to 25% good or excellent as for Sunday compared to 24% a week earlier. However, talks that cold temperatures in the south western Plains may damage crops were supportive for wheat futures.

Corn advanced on speculation that the USDA will announce that US inventories dropped to a 15-year low. Stocks on March 1 probably reached 4.995 billion bushels, down 17% from the year earlier.

Sugar slumped despite unfavorable weather forecasts in Santos, the largest Brazil's exporting port. Rains are likely to complicate logistical situation in the major ports in Brazil.

Coffee moved higher on ideas that crops in Central America and Mexico may decline to 15 million bags next year compared to earlier forecast of 16 million bags because of spreading crop disease.
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