Sugar fell on profit taking from four-month high price

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Source: Dukascopy Bank
Agricultural commodities, except for sugar, rallied on Tuesday amid weaker US Dollar and positive headlines from the US and the EU. However, sugar futures edged lower during the volatile trade as investors cashed out of the market to profit from four-month high sugar prices before switching to the next month contract. Moreover, Rabobank expects sugar price to fall in the second half of 2012 after Indian and Thailand's sugar crops are harvested. At the same time, wheat and corn futures mostly followed the soybeans' suit that extended its rally on the lingering worries over the South American crops and stronger demand from China, the largest soybean consumer. Coffee retreated from last week lows and added 0.81%.


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