Corn surged on supply concerns

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Source: Dukascopy Bank SA
Agricultural commodities posted strong weekly gains in thin Thursday's trade as US markets were closed for holiday. Persistent worries over harvest conditions in the US and Brazil continued to support the commodity pack.

Wheat climbed as dry and hot weather in the US escalated global supply concerns. Moreover, recent dryness in Black Sea regions weighted on the crop yields in the area thus adding to production cuts worldwide.

Corn surged on expectations for new heat wave in the US that is likely to continue hurting crops of world's top-producer.

Sugar approached two-month high on speculation that Brazilian output will remain restricted amid rainfalls that harmed cane harvest.

Coffee appreciated as wet weather in Brazil is expected to return by the weekend and may hurt the quality of coffee beans further.


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Thu, 05 Jul 2012 15:35:42 GMT

Crude oil rallies on Norway supply concerns

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