Grain commodities rallied on the potentially stronger demand for US exports

Source: Dukascopy Bank
Rural commodities rallied on Friday amid expectation of stronger demand for US grain supplies.  Harmed crops in the South America created fresh stimulus for major grain importers such as China to replace South American supplies with increased imports from the US. Wheat, the top gainer, was also backed up by the further limitation of exports from Ukraine. Moreover, speculation over deteriorated weather conditions in South America lent some support to corn and wheat price. Meanwhile, sugar and coffee remained resilient to any shocks and are likely to continue upward move on the speculation over the adverse weather conditions in South America.


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