Corn climbs as unfavorable weather slows early planting

Source: Dukascopy Bank SA
Rural commodities except for sugar advanced on Wednesday as cold weather in the US may impact winter crops and slow early planting. Meanwhile, worries over spreading coffee leaf rust in Central America supported coffee futures.

Wheat rallied as freezing conditions in the top growing areas of the US may damage winter crop and delay spring planting. Supporting prices, Informa Economics estimated hard red winter wheat crop at 903 million bushels, down 10% from previous year's harvest.

Corn jumped on talks rains in the US Midwest expected next week may slow early planting. However, the commodity continued to face pressure from a recent USDA report, indicating US inventories as for March 1 were higher-than-expected.

Sugar was the only loser amid ideas global supplies will be ample this season due to rising production in Brazil. Moreover, easing worries over logistical problems in Brazil pushed the sweetener lower.

Coffee edged up on concerns that a possible decline in Central American crops may pose a threat to global supplies even despite abundant Brazilian harvest.
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