Rural commodities mixed on improved crop condiitions in the US

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Source: Dukascopy Bank
Agricultural commodities were mixed on Wednesday with growing sugar and wheat futures and falling corn and coffee. Rural commodes were pressured by the higher US Dollar and bleaker outlook on China's economy. Moreover, favorable weather conditions in the US also pushed the commodity group lower. Corn futures lost 0.67% on Wednesday as traders cashed out form the market due to high corn prices after Argentina delayed granting corn export permits until April. Wheat was almost unchanged over the day balancing between growing soybean prices and falling corn futures. Sugar was the top-performer despite expected ample supplies. Meanwhile, coffee price approached almost 17-month low along with nearing Brazilian harvest.


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