Wheat surged on adverse weather conditions

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Source: Dukascopy Bank SA
Rural commodities were bullish on Monday as weather in the US, Russia and Ukraine remains dry and hot while rains in Brazil continue to harm crops.

Wheat rocketed by almost 8% over the day after the EU lowered harvest yields by 0.4% this year, citing dry weather in Spain.

Corn soared amid adverse weather conditions in top-growing regions in the US. Hot and dry weather is expected to remain till the end of June.

Sugar rose on unfavorable weather in Brazil. However, potential ample supplies continued to restrict upward trend of the sweetener.

Coffee erased some of the previous losses on supply concerns from Brazil. Heavy rains in the country are hurting crops and impacting
the quality of beans.


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Tue, 26 Jun 2012 15:42:19 GMT

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