Wheat surged on adverse weather conditions

Source: Dukascopy Bank SA
Rural commodities were bullish on Monday as weather in the US, Russia and Ukraine remains dry and hot while rains in Brazil continue to harm crops.

Wheat rocketed by almost 8% over the day after the EU lowered harvest yields by 0.4% this year, citing dry weather in Spain.

Corn soared amid adverse weather conditions in top-growing regions in the US. Hot and dry weather is expected to remain till the end of June.

Sugar rose on unfavorable weather in Brazil. However, potential ample supplies continued to restrict upward trend of the sweetener.

Coffee erased some of the previous losses on supply concerns from Brazil. Heavy rains in the country are hurting crops and impacting
the quality of beans.


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Tue, 26 Jun 2012 15:42:19 GMT

Spain faced rising borrowing costs at debt sale

Spain faced rising borrowing costs at Tuesday's auction where the country was selling three and six-month sovereign bonds. Spain sold 1.6 billion Euros of bonds with maturity in three months with average yield of 2.362% as compared to a yield of 0.846% at auction in May. Meanwhile, the country also sold 1.48 billion Euros of six-month bonds with average yield

Tue, 26 Jun 2012 14:14:17 GMT

Crude oil moved down on demand uncertainty

Energy commodities, excluding crude oil, appreciated on Monday as tropical storm Debby in the Gulf of Mexico is likely to disrupt production.Crude oil dropped on demand concerns after Spain and Cyprus applied for bailouts on Monday. Moreover, high output levels from OPEC remove supply risk premium created by tensions in the Middle East. Brent oil advanced as oil companies shut down

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