Sugar tumbled amid rising Indian and Brazilian exports

Source: Dukascopy Bank SA
Rural commodities slid on Thursday on broadly stronger US Dollar and improving weather conditions in the US and Russia.

Wheat dropped by more than 1% as falling corn prices started to erode wheat's appeal as more cost-efficient feed alternative for livestock production in the US. Moreover expected rainfalls in the US and Russia are likely to boost crop prospects.

Corn sank because of long-awaited rain forecasts in the top-growing regions in the US and Russia. Adding to the negative mood of the commodity, cooling China's economy may impact Asian demand.

Sugar extended previous losses as weak Brazilian and Indian currencies are expected to boost sweetener's exports.

Coffee continued its longest slump in 31 years as global economic slowdown impacts consumption. Furthermore record Latin American crops are likely to result in  oversupply in the market.



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