Coffee gains on ‘absurd' Brazil production estimates

Source: Dukascopy Bank SA
© Scanpix/Reuters
Farm commodities were mixed on Monday, with softs moving higher and grains slumping. Weaker US Dollar coupled with positive news from Japan pushed rural commodities higher. At the same time, persistent concerns over looming US fiscal cliff and weak demand for US supplies pressurized the commodity group.

Wheat tanked for sixth time in seven sessions on worries that low prices have yet simulated demand for US supplies. Restricting the downswing, Argentina is set to cut its wheat export quota to 3.37 million tonnes due to unexpected low crop yields in 2012-13.

Corn sank the most in a week amid signs of slowing demand for US grains. As for December 6, US corn sales for delivery before September 1 slumped 46% on an annual basis, reported the USDA.

Sugar was the top-performer despite expected global surplus. Rabobank projects global supply glut to remain near 6.6 million tonnes in 2012-13.

Coffee gained on speculation that recent production estimates were exaggerated. Brazilian coffee council claims that recent crop estimates were ‘absurd' as next season crop will not exceed this year output due to  low-yielding crop cycle.


Back to articles

Actual Topics

Tue, 18 Dec 2012 10:36:09 GMT

Australia's Dollar stays lower as RBA expresses concern about labour market

Australia's Dollar stayed lower as the country's central bank said that a softer labour market was one of the main reasons for interest rates cut this month. The Aussie lost 0.1% to $1.0540 from yesterday, when the currency declined 0.1% to $1.0552. The Australian Dollar bought 88.51 yen from 88.52 a day earlier, when it reached 89.13, the strongest since

Tue, 18 Dec 2012 09:52:09 GMT

Heating oil tumbles despite cooler weather forecasts

Energy futures were mixed on Monday as traders readjusted their positions ahead of January contract expiration due on Tuesday. Meanwhile, weaker US Dollar was supportive for the commodity group. Moreover, expectations for monetary easing in Japan after the Liberal Democratic party won general elections on Sunday pushed energy futures higher. Crude oil prolonged its rally ahead of January contract expiration.

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.