Corn unchanged amid drought in top-growing regions

Source: Dukascopy Bank SA
Rural commodities soared on Friday as crop conditions are deteriorating in the major growing-regions while demand is expected to remain strong.

Wheat surged as dry and hot weather forecasts in Russia, Ukraine and the Great Plants bolstered grain's price. Moreover, solid demand for US wheat provided fresh stimulus for price increase.

Corn was unchanged on Friday but the commodity is likely to post gains in the next sessions as hot and dry weather in the US may harm the crops.

Sugar rose for the second trading day in a row amid worries that rains in Brazil may impact harvest. At the moment, output from the Brazilian largest sweetener's growing region tumbled by 34% in the first half of May.

Coffee bounced off 22-month low despite expected ample supplies from Brazil.



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