Sugar advanced on Brazilian weather concerns

Source: Dukascopy Bank SA
Farm commodities climbed on Tuesday on concerns over South American crop conditions. Telvent DTN, weather services provider, reported that storms are expected later this week that may delay corn harvesting in Argentina and Brazil. However, solid greenback capped gains of the commodity group.

Wheat soared the most in eight weeks after the USDA announced that conditions of winter varieties deteriorated further last week.
Corn climbed on concerns over the progress of Brazilian corn harvesting. Moreover, stronger demand for US exports boosted corn futures.

Sugar moved higher amid worries over weather conditions in Brazil and Argentina. However, a potential oversupply on the market this year restricted the upswing.

Coffee bounced off 29-month low after Colombia's National Federation of Coffee Growers stated that output will reach 8 million bags this year, down from the previous estimate of 8.5 million bags.


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