Farm commodities were mixed on Thursday, balancing between expectations for better weather conditions in Brazil and persistent drought in the US.
Wheat rallied as hot and dry weather in the US continued to weight on the crop prospects. Moreover, easing measures across the globe are likely to spur demand.
Corn soared to nine-month high as US drought continued to limit output. However, Brazil upgraded this year's corn production forecast thus capping the upswing of the grain commodity.
Sugar edged down despite rains in Brazil that delayed harvesting in the current crop year. Moreover, China is set to import the most corn in the last 17 years as government replenishes the country's stockpiles.
Coffee dropped as dry weather is expected to return to Brazil next week thus coffee crop conditions may improve increasing harvest yields.