Agricultural commodities mixed after USDA report

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Source: Dukascopy Bank
Rural commodities were mixed on Friday with advancing grain commodities and falling sugar and coffee futures. The commodity pack was pressured by the broadly stronger US Dollar and improved weather conditions in the US. Grains gained fresh stimulus after USDA lowered estimation of the global grain stockpiles. Wheat was also bolstered by bargain buying as commodity moved to the oversold area. Meanwhile, speculation over strong China's demand for US corn pushed up corn's price. However, dry and warm weather in the US limited the upward trend of grain futures. Sugar ended the week with 1.25% loss on the expectation of the ample global supplies. At the same time, coffee traders are anxious as Brazilian coffee harvest looms.


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