Sugar fell despite persistent rains in Brazil

Source: Dukascopy Bank SA
Farm commodities were mixed on Friday as hot weather in the US supported grains while global economic uncertainty weighted down on coffee and sugar futures.

Wheat rallied on speculation that hot and dry weather in the US, Russia and Ukraine will curb essentially global stockpiles.

Corn advanced as forecast for fry, hot weather in the key growing regions in the US spurred worries that crops may be smaller than expected.

Sugar lost 5% despite rains in Brazil that are delaying harvest and are expected to reduce yields. Meanwhile, Rabobank expects the sweetener's price to stabilize at 20.5 cents per pound in the nearest term.

Coffee followed bearish trend despite possible deficit in the market as consumption may outplace supply in 2011-12, according to ICO.


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