Wheat extended rally on recent supply forecast cut

Source: Dukascopy Bank SA

Rural commodities were mixed on Thursday, balancing between global demand concerns and supply uncertainty. Currently, traders turned from Wednesday's USDA report to weather related issues.

Wheat futures prolonged the rally as price-boosting effect of the recent USDA report persisted. On Wednesday, USDA slashed global wheat production forecast, citing large harvest yields fall in Russia and Kazakhstan.   

Corn recovered some of losses caused by USDA report that indicated potential slump in corn demand. Thursday's plunge created bargain buying opportunities for investors.

Sugar dropped on stronger US Dollar. However, a 28.1% slump in Brazilian sugar output since the beginning of harvest limited losses of the sweetener.

Coffee declined as expected rains in the main coffee-growing regions in Vietnam are likely to lift production.

 

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.