© Scanpix/Reuters
|
Wheat was the top-loser after the USDA reported that US exports dropped 9.1% to reach the lowest level since 2009 in the week ended December 20. However, speculation that a fall in prices will attract importers from the Middle East limited the downswing.
Corn slumped on signs of weak demand for US supplies. US corn inspected for export dipped 18% in the week ended December 20 from a week earlier. US exports tumbled 66% year on year last week, according to the USDA.
Sugar moved higher despite ample global supplies and rising refined sugar exports from India.
Coffee was the top-performer on recent Barclays' comments that Brazilian harvest will be lower next year due to low-yielding crop cycle. The bank also highlighted high potential for short-covering after a recent drop in Arabica coffee prices.