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Wheat moved higher, attaining two-week high as only about 33% of wheat was in good or excellent condition last week, the lowest level in 27 years. However the upswing was limited as Ukraine does not plan to impose export restrictions.
Corn was unchanged despite a probable increase in US exports last week. Moreover, worries that upcoming storms in Brazil and Argentine will decelerate harvesting pushed corn futures higher.
Sugar was the only loser despite expected decline in global surplus in the next marketing season. Brazil is likely to raise mandatory amount of ethanol included in gasoline to 25% in 2013 versus current 20%.
Coffee soared the most in 11 weeks after Rabobank International reported that demand may surpass production next season. A deficit is expected to appear in the year starting October 2013 as Brazil enters low-yielding cycle.