Rural commodities moved higher on Friday amid crop worries

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Source: Dukascopy Bank
Rural commodities except for sugar followed an upward trend on Friday amid weaker US Dollar and risk of crop estimations downgrades in South America. Grains mostly were inspired by the soybean rally amid uncertain harvests in Brazil and Argentina after drought. Wheat also was lifted as dry weather in the EU is likely to impact the crops in the current marketing season. However, the jump may be blocked by forecasts that Russia's grain crop will exceed the previous estimations. Sugar futures continued to be pressured by ample global supplies. At the same time, Arabica coffee futures extended the rally due to Brazilian frost concerns that may seriously damage coffee crops.


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Mon, 26 Mar 2012 13:46:24 GMT

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